24 May 2012

Bid by Indian company for RIS subsidiary

6:49 am on 24 May 2012

An Indian technology company has offered to buy Retail Information Systems, a subsidiary of RIS Group. USG Tech Solutions wants to buy 100% of the shares.

RIS says it is currently reviewing the offer and discussing details and terms with USG.

It says details of the offer are confidential at this stage, but it may recommend that the offer be put to a shareholder vote.

Shares in RIS were placed on a trading halt ahead of the announcement, and were last traded in August last year.