BUZZ-Australia's Dropsuite hits near 12-yr high on $263 million buyout deal

Reuters

2025/01/28

** Shares of Dropsuite DSE.AX rise 29.8% to A$5.71, their highest since May 16, 2013

** Stock posts its biggest intraday gain since July 3, 2020

** Cloud services provider says U.S. based IT management software firm NinjaOne will buy co for A$420 million ($263.05 million) in cash

** Offer price of A$5.90 per share represents a 34.1% premium to co's last close

** About 2.2 mln shares change hands, vs the 30-day average of around 48,000

** Stock up 23.1% this year, including the day's move

($1 = 1.5967 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com;))

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