Vega’s approach to Codascisys came as the company was undertaking a strategic review of its business, and while the company is not yet willing to commit itself on the outcome of the talks, it said it could result in a cash offer.
The company’s coda financial software operation has been more successful than its scisys business and the sale of part of the operation to Vega will give it the resources to expand code through acquisition.
Vega said that given the size of the business, the deal could constitute a reverse takeover.
This article is based on material originally published by ComputerWire
