Advanced Computer Software acquires accounting IT for £110m
Advanced Computer Software acquires Computer Software Holdings in £110m deal, amalgamating their accounting and back-office software offerings
ADVANCED COMPUTER SOFTWARE has acquired accounting technology provider Computer Software from investment business HG Capital, in an £110m deal.
ACS provides healthcare and business management software and financial services, its latest acquisition is focused on UK professional services and the not-for-profit market.
Computer Software also provides accounting software to SMEs and mobile devices. The amalgamated group will have more than 1,900 staff serving about 20,000 clients across the UK, Ireland and the US.
The deal was supported by debt funding from Royal Bank of Scotland, HSBC and Silicon Valley Bank.
Chief executive of ACS Vin Murria (pictured) said: “This immediately earnings-enhancing acquisition is a tremendous opportunity for both ACS and [Computer Software] which will also significantly enhance the scale of our business solutions and managed services divisions.”
Last year ACS, in partnership with Syscap, launched a finance option for companies struggling to raise funds to update their technology. Customers could pay installments to update technology from ACS.