Conveyancing software firm Smoove has confirmed that an “alternative potential transaction” proposed by a third party has been dropped.
In an update today, Smoove said it had been notified by the third party that following the disclosure of the possible offer from Pexa it was “discontinuing discussions”.
The alternative transaction, Smoove said yesterday, would not have led to an offer for the company.
It follows the announcement yesterday from Smoove that it was in “early discussions” with Pexa about a possible cash offer to buy the firm.
Smoove reiterated today that discussions remain at the early stage so “there can be no certainty that an offer will be made for the company, nor as to the terms on which an offer may be made”.
The company had said yesterday that the offer period had started and Pexa would need to make a bid for the firm by 5pm on 22 May in conjunction with guidelines.
Smoove was founded in 2003 and listed on the Alternative Investment Market in 2014.
The firm offers several IT solutions, which include Econveyancer, Smoove Start, Smoove Complete and Smoove Home.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
