Esyasoft trims CyanConnode bid to £36.5M after due diligence findings
What's the deal? EsyasoftDealroom has a profile for this one. Try Dealroom → Holding Ltd has revised its cash offer for CyanConnode Holdings PLC to £36.5 million, or 10.165 pence per share, after raising issues found during due diligence.
The players: CyanConnode is a Cambridge, England-based developer of narrowband radio frequency mesh networks. Esyasoft is a subsidiary of International Holding CompanyDealroom has a profile for this one. Try Dealroom → PJSC.
How we got here: Esyasoft first made a cash offer in February 2026 valuing CyanConnode at £35 million, or 9.75 pence per share. It raised that in March 2026 to £37.5 million, or 10.44 pence per share.
Why the cut? Esyasoft flagged matters arising from due diligence, including potential liabilities and the carrying value of certain balance sheet items. The lower price reflects those findings.
What's next? Despite the reduced terms, CyanConnode's board says the offer is at a level it "would be minded to recommend unanimously" to shareholders. Esyasoft faces a put-up-or-shut-up deadline of 17:00 on 21 July 2026.
The signal: Due diligence remains the pivot point where announced deals get repriced. Here it shaved £1 million off the headline value, yet still left both sides within reach of an agreement.
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