Telephonetics hangs up on offer talks with Eckoh
Wednesday, April 02, 2008
Telephonetics has called off takeover talks with speech recognition rival Eckoh after discussions between the companies got no further than the due diligence.
In a statement, Eckoh said the companies were unable to reach an agreement that it believed would be in the best interests of shareholders. It noted that it was still in deal talks with various parties, although none of the discussions at this stage contemplate a takeover.
Eckoh noted that good progress was made in the second half of the year and as a result it was confident of announcing results for the year ended 31 March 2008 ahead of market expectations.
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