Diligent, sitting on cash, mulls growth options, acquisitions

Sun, 02 Mar 2014

By Paul McBeth March 3 (BusinessDesk) - Diligent Board Member Services, which last week restated its financial statements, is mulling options for growth, including acquisitions, as the first port of call for the pile of cash it’s sitting on. Chief executive Alex Sodi told analysts the first option to use its US$56 million in cash and equivalents would be to grow the business before considering any redistribution to investors. “We’re a software-as-a-service company – the key is growth when we look at use of cash,” Sodi said. “Can we use it...

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