What's next for Procurri after aborted asset sale?

PROCURRI shares went on a roller-coaster ride over the past two months as initial excitement over a possible offer turned to doubts. Last week, the ride fizzled out after data centre support services specialist Park Place Technologies decided that it no longer wants to acquire Procurri's third-party hardware maintenance business.

(It's called third-party maintenance because Procurri helps customers service servers and storage equipment that's no longer covered by a warranty from the original equipment manufacturers.)

Deal talks had begun in November with Park Place making an indicative cash offer of US$115 million or S$0.55 per share for all of the assets that comprise Procurri's third-party hardware maintenance business, subject to due diligence.