JON Moulton’s investment vehicle has accused Clarity Commerce of lacking credibility with customers, after the software firm rubbished its £9.7m takeover offer.
Enigmatic Investments, controlled by Moulton’s (pictured) buyout company Better Capital, defended its bid and highlighted the £1.6m loss from continuing operations which Clarity posted for the year to 31 March.
“Enigmatic Investments has noted the Clarity Board’s statement and views, and rejects the notion that the offer is highly opportunistic and that it undervalues the Company and its prospects.”
Last night a spokesman for Clarity, which provides software solutions to the entertainment, retail, hospitality and leisure sector, told City A.M. the bid was opportunistic and underestimates its value and prospects. Clarity is due provide more information to investors today.