Bidtimes

After almost two years on Aim, cash shell-turned-investment vehicle Bidtimes has made its first acquisition. The company has agreed to pay roughly £1.7m in shares for Firefly - a firm whose principle asset is an 11.4% stake in loss-making assistance technology developer SRS Technology. SRS specialises in developing 'electronic assisting' products that allow the remote operation of household appliances. SRS, which initially targeted these products at those suffering from impaired mobility but now sees a wider consumer market, generated a £0.8m loss from £47,000 sales. A £1.2m loss is expected this year. So far, Bidtimes has received acceptances for 91.54% of Firefly's shares - making its offer unconditional. The firm will now seek further investment opportunities 'in high growth sectors' that offer 'a suitable exit route within the medium term'.

Sector: General Financial

Companies: PowerHouse Energy (suspended on 12 April 2012)

Market cap: £16.9m

PE Forecast: n/a

Share price: 13.5p

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