QRSciences in talks with acquisition parties

Perth-based security technology group QRSciences Ltd has announced it has been in contact with a number of parties which have expressed an interest in acquiring all or parts of the QRSciences business.

To assist the company to evaluate and develop responses to these approaches, the company has engaged Californian-based investment banking firm Pagemill Partners.

QRSciences' CEO Kevin Russeth said that the company had significant intellectual property assets and with the right partner these assets could be leveraged to create value that doesn't exist in the market today.

Mr Russeth said that Pagemill Partners would advise the company on strategic initiatives including divestiture of one or more assets or product lines, merger and acquisition opportunities, joint product development in the U.S. and Europe, privatisation and identification of a corporate partner/investor.

At market close shares in QRSciences were up 1 per cent to 44.5 cents.