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ISoft confirms takeover meetings ISoft confirms takeover meetings
(about 2 hours later)
Struggling software company iSoft has confirmed it is to hold takeover talks with a number of suitors.Struggling software company iSoft has confirmed it is to hold takeover talks with a number of suitors.
The firm said in a statement that it had received "expressions of interest" from a number of parties interested in buying the company over recent months.The firm said in a statement that it had received "expressions of interest" from a number of parties interested in buying the company over recent months.
ISoft has hit the headlines this year due to delays to its work upgrading National Health Service computers.ISoft has hit the headlines this year due to delays to its work upgrading National Health Service computers.
It made a £344m loss last year but has since secured fresh finance. Rumours of a takeover started in the summer.It made a £344m loss last year but has since secured fresh finance. Rumours of a takeover started in the summer.
'Shareholder interest''Shareholder interest'
ISoft, whose shares have fallen as much as 90% over the past year, has struggled with its £6.2bn ($11.6bn) contract to upgrade NHS computer systems. ISoft, whose shares have fallen as much as 90% over the past year, has struggled with its £6.2bn contract to upgrade NHS computer systems.
The project has been hit by a string of delays and other problems, leading to a number of profit warnings.The project has been hit by a string of delays and other problems, leading to a number of profit warnings.
ISoft said its board had determined that the talks with potential suitors were in the best interests of shareholders.ISoft said its board had determined that the talks with potential suitors were in the best interests of shareholders.
Yet it said that nothing had yet been decided. However, the company added that nothing had yet been decided.
"These discussions may or may not lead to an offer for the company," said iSoft."These discussions may or may not lead to an offer for the company," said iSoft.
It added in its statement on Tuesday that the difficulties meant its full-year revenues were expected to be 10% to 15% lower than expected. It added in its statement on Tuesday that the difficulties meant its full-year revenues probably would be 10% to 15% lower than many analysts had expected.
ISoft shares fell 0.9% to 55.25 pence in London.