Advanced Computer Software gulps down Computer Software Holdings
Kerching! ACS splashes £110m cash in buyout of CSH
Advanced Computer Software Group has hoovered up accounting software outfit Computer Software Holdings from HgCapital LLP for £110m in an all-cash deal.
The healthcare and biz management software and services firm added that the buyout of CSH was the company's biggest acquisition to date.
“The business and many of the management team are well known to us which will simplify the integration process," said ACS chief Vin Murria.
“CSH has strong recurring revenues and cash generation and proprietary software IP. The addition of this business will enable us to widen our addressable markets and, in particular, to grow our back office solutions capabilities."
ACS expects to see its net debt plummet following the takeover and also hopes to see more opportunities for cross-selling its portfolio of products and services.
Separately, ACS said in a trading update that it expected sales for the year ended 28 February to climb to £119m, up 21 per cent when compared to the previous 12 months. ®