CTI Group Holdings Inc (OTCMKTS:CTIG) Explodes On Acquisition News

[[tagnumber 0]][[tagnumber 1]]The stock of CTI Group Holdings Inc (OTCMKTS:CTIG) has barely been trading for quite some time now. The ticker was swaying in both directions from the 30 cent per share mark for a few months now and regularly recorded sessions in which not a single share of the company’s common stock was traded.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Despite the lack of interest in [[tagnumber 6]]CTIG’s[[tagnumber 7]] stock, however, the company seems to be pretty decent. Their latest financial report shows some impressive numbers, but we have seen actual, operating businesses fail to attract investor attention in the past, so it’s not such a big surprise.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $4.33 million[[tagnumber 13]] [[tagnumber 12]]current assets: $7.85 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $6.41 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $3.69 million[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $401 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Pretty decent numbers for an OTC marketplace listed entity. They most certainly are one of the reasons behind the latest announcement from the company. [[tagnumber 6]]CTIG[[tagnumber 7]] doesn’t really offer a lot of press releases. That’s why it was such a big surprise to finally see one yesterday.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company announced that they have signed a definitive agreement and will most likely be acquired by Enghouse Systems Limited (TSE:ESL). Enghouse will make a tender offer for all outstanding [[tagnumber 6]]CTIG[[tagnumber 7]] shares, and will pay $0.61 per pop in cash in order to acquire the company.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Needless to say, this sparked investor interest and we saw [[tagnumber 6]]CTIG[[tagnumber 7]] soar, gaining 73.58% in yesterday’s trading. A serious 927 thousand traded shares generated $549 thousand in daily dollar volume, the biggest in years of trading.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]As [[tagnumber 6]]CTIG[[tagnumber 7]] came closer to the proposed price of the tender offering we see it begin to hesitate. In any case, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]