ThirdForce in talks to buy computer business as share price doubles

COMPUTER training company ThirdForce, whose share price has almost doubled over the past week, has said it is in talks to buy a related business. The company responded to unusual patterns of trading in its stock by telling the stock exchange yesterday that it was examining the possibility of acquiring an unnamed private company in a “complementary business”.

ThirdForce, which is quoted on the Developing Companies Market in Dublin as well as London’s Alternative Investment Market, has seen its share price surge by 87% from 23.5c last week to yesterday’s level of 44c. Its market capitalisation now stands at over €50 million.

The company changed its name from Rapid Technology in March last year following a move into computer-based training and the €15.5 million acquisition of electronic learning company Electric Paper. Rapid Technology had previously focused on computer hardware before the board’s decision to change the company’s strategy.