COA acquired for £100m
IT company to enhance primary care technology providers
Financial software providers,
COA, has been
acquired by
Advanced Computer
Software (ACS) for an estimated £100m.
COA’s parent company Redac Holdings was owned by private equity business
Alchemy Partners with the deal going through earlier this week.
Vin Murria, ACS Group Chief Executive said: “There are substantial
opportunities to cross sell our existing healthcare products into new markets
while many of our existing healthcare clients could benefit from management
tools in the COA product suite.”
COA customers are generally in the private, healthcare and emergency sectors
with ACS focusing on the primary care sector.
The acquisition was funded through a £55m banking facility at ACS, term loan
of £25m and revolving credit of £30m over three and a half years provided by
HSBC.
COA won an Accountancy Age Award last year for its finance software
Further reading:
COA
results propped up by internet offering
Enterprise
software of the year: COA Solutions