Walkie-Talkie maker Sepura will reportedly receive a £90m takeover bid from Chinese company Hytera Communications.
The Chinese telecoms giant is expected to offer more than 25p a share for the business in the coming weeks, according to the Sunday Times. The move would come just months after a series of profit warnings led Sepura to hire investment bank Lazard to search for buyers for the company.
The Cambridge-based communications technology business, which makes handsets for the emergency services, confirmed preliminary talks with Hytera at the end of last week.
Hytera, which is based in Shenzhen, southern China, has a large customer base in more than 120 countries and regions across the world.
Sepura closed at 18.5p on Friday with a market value of £68.9m.