SSP says discussions at 'early stage'

Insurance software house SSP is in sale talks with a potential buyer, the company disclosed today.

In an announcement to the Stock Exchange, the AIM-listed company said: “The Board of SSP notes the recent movement in its share price and confirms that it is in discussions with a financial buyer, which may or may not lead to an offer being made for the Company.

“These discussions are at an early stage and there is no certainty that they will result in a formal offer.”

In 2007, SSP posted revenues of over £38m and profit after tax of £2.5m. Last year it acquired rival software house Sirius.

SSP shares are currently trading at 165.50p, up 6p on the day.