Deal will see Advanced look to challenge globally.
Advanced Computer Software Group (Advanced) has announced that it has been acquired by Vista Equity Partners in a deal worth £750 million.
This deal will put Advanced in a strong financial position in order to invest in and develop the business.
Vin Murria, CEO of Advanced Computer Software Group, said: “This acquisition means we now have the major financial backing we need to support us through our next phase of growth and establish our position as a serious global player.”
“Our customers will benefit from increased investment in our product and services as we continue to offer innovative and leading edge technology solutions implemented both on-premise and, increasingly, via a subscription model.”
Advanced, which was founded in 2008, provides healthcare, business and learning management software and services.
Advanced is the third-largest UK-based software provider to the UK market and has grown revenue to more than £200 million through complementary acquisitions and organic growth.
Brian Sheth, Co-Founder and President of Vista Equity Partners, said: “Advanced has a strong history of delivering mission-critical and high ROI solutions to its customers.”
“Vista will help Advanced build on that success by contributing professional expertise, proven best practices, and management techniques that will help Advanced continue to deliver operational, product and service excellence.”
Shareholders will receive 140 pence per share equating to an equity value of approximately £725 million.
