Mergers and Acquistions News
Categories: Software
February 12th 2010, 13:33PM
Advanced Computer Software (ACS), which provides software and IT services to the primary care sector, has acquired Redac Holdings, the owner of COA Solutions, for a total consideration of £100 million.
COA, which was previously owned by Alchemy Partners, is a leading supplier of solutions to the public and private sectors, such as accounting, budgeting, data analysis, business intelligence and document management software.
Vin Murria, ACS group chief executive, said the acquisition is likely to enhance the firm's earnings while solidifying its position in the healthcare and public sector markets.
"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," she added.
In a recent interview with the Wall Street Journal, Ms Murria said that ACS is planning a further acquisition in the next 12 months of between £30 million and £40 million in value.
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