STOCK WATCH

÷ A CASH bid sent ServicePower Technologies shares soaring.

The software company has received an offer from US private equity firm Diversis Capital valuing the business at £13.65m.

Under the deal, shareholders will receive 6p in cash for each ServicePower share they hold. The offer is equivalent to a 129pc premium to the 2.62p price shares closed at on November 21 – the day the bid was made.

ServicePower said it was fair and reasonable. The board has unanimously agreed to recommend it to shareholders. Shares shot up 33.3pc, or 1.4p, to 5.5p.