E-learning group Thirdforce has received a takeover approach of 8 cents a share from members of its management team.
In a brief statement the company said it noted press speculation over the weekend in relation to a possible offer and confirmed it had received a takeover approach.
The company has appointed a committee of Independent directors; Eimer McGovern, Alan Maguire, Mike Newton, Carol Clark and Edwin Robinson, to handle the approach and they have retained Goodbody Corporate Finance as advisors.
Last September posted a net loss of €737,000 for the first half of its financial year, due to increased costs and the strength of the euro against the dollar and sterling.
The company has offices in Britain, Ireland, US, Australia and Canada and employs about 230 people.