Bizspace, the managed workspace provider, is to be acquired by Highcross for £77m. The price for the AIM-listed workspace provider is a premium of 21% to the fully diluted net asset value per share, 77p, as at the end of February. Highcross managing director Peter Gubb said: "We believe that the offer presents the next logical step for the Bizspace business because it provides the opportunity to combine Highcross's investment expertise and capital resources with Bizspace's strong management team." The Bizspace directors signalled their support for the offer by undertaking to sell their shares in the company, which total 0.6% of the issued share capital. Shareholders representing a further 57% of the company's share capital have also agreed to sell. It is understood that Gubb beat off a rival offer from industrial developer Chancerygate to secure the deal.