Mark Furness, founder and non-executive director of flexible workspace software and technology provider essensys, has submitted an offer to acquire the business.
In a trading update, essensys said Furness had submitted a preliminary, indicative, non-binding proposal relating to a possible all-cash offer for the entire issued and to be issued share capital of the company, of 20p per share.
The independent directors of the company are in early stage discussions with Furness and he must either announce a firm intention to make an offer for the company or announce that he does not intend to make an offer by not later than 5pm on 26 December 2025.
In the trading update, essensys said revenue for the first quarter of the 2026 financial year was £4.1m, which was broadly inline with management expectations.
However, it said adoption of its new elumo product had been slower than anticipated and as a result it expected its financial results for the 2026 financial year would be “materially below” expectations.
