STOCK WATCH

SOFTWARE firm Kalibrate Technologies soared by nearly 50pc yesterday after being bought by private equity firm Hanover Bidco for £29m.

Kalibrate’s software allows petrol companies to adjust their prices almost in realtime to help boost profits and keep an eye on competitors.

The offer of 85.5p a share is a 50pc premium to Kalibrate’s share price at the time of the bid. It said the deal will help to fund its continue expansion.

Shares rose 45.6pc, or 26p, to 83p.