Mergers and Acquistions News
Categories: IT Services & Consulting
November 3rd 2008, 15:02PM
Northgate Information Solutions has completed its £53.4 million acquisition of Anite Public Sector Holdings (PSH), it has been revealed.
According to David Meaden, chief executive of Northgate Public Services, the takeover confirms the firm's position as the UK's leading player in the local government, social housing and criminal justice public service markets.
He said: "This acquisition broadens and strengthens our capacity and our capability to successfully respond to large scale, strategic and complex procurements and deliver realisable outcomes."
The deal marks a new and exiting stage in the firm's development, Mr Meaden added.
Although the acquisition was agreed on August 29th, it was not cleared by the Office of Fair Trading until October 27th.
The cash consideration of £54.3 million is subject to the settlement of a £3.8 million receivable owed by Anite to Anite PSH, as well as a working capital adjustment which will follow completion.
Northgate Information Solutions employs more than 6,000 staff across 46 countries.
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