PrintPotato.coms share price doubled from 0.75p to 1.5p after the company announced that it was in advanced discussions to acquire another business.
Its target, in a deal believed to be worth around 15m, is understood to be from outside the printing sector.
The firm announced four months ago (PrintWeek, 16 February) that it was seeking a "prospective partnership with interested firms" after a slow uptake on sales.
Non-executive chairman Stephen Hargrave would only say the firm had talked to a number of printing and non-printing dotcoms after Februarys announcement, which he described as a "fishing expedition".
"One or two had interesting ideas," he added.
The acquisition would be classed as a reverse takeover under AIM rules.
Have your say in the Printweek Poll
Related stories
Latest comments
"15 x members? Why don't they throw their lot in with the Strategic Mailing Partnership (SMP) and get a louder voice?"
"Some forty plus years ago I was at a "sales" training seminar and got chatting to the trainer after the session had finished.
In that conversation he told me about another seminar he had..."
Up next...
New owner is 'patient, committed investor'
Shareholders green light Royal Mail takeover
Two other tenders also available
House of Commons contingency printing tender live
Wide-format's gala expo
Visionaries welcome
Global Print Expo