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Takeover to accelerate Advanced’s position as a global player

Leading UK software provider, Advanced Computer Software Group (“Advanced”), today announced that it has been acquired by Vista Equity Partners (“Vista”), a private equity firm with over $14 billion in committed capital, for an enterprise value of £750 million. Shareholders will receive 140 pence per share equating to an equity value of approximately £725 million. The takeover puts Advanced in a powerful financial position to invest in and develop the business through the next phase of growth, supporting its ambition to become a major global player.

"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,” said Vin Murria, CEO of Advanced Computer Software Group. "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.”

Founded in 2008, Advanced provides healthcare, business and learning management software and services. It is the third-largest UK-based software provider to the UK market, with more than 2,000 employees and 20,000 customers. The group has grown revenue to more than £200 million through a programme of complementary acquisitions and strong organic growth.

“Advanced has a strong history of delivering mission-critical and high ROI solutions to its customers,” said Brian Sheth, Co-Founder and President of Vista Equity Partners. “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.”

In 2014, Advanced won Tech Company of the Year in PwC’s UK Tech Awards and was ranked in the Deloitte UK Technology Fast 50, which recognises the 50 fastest growing technology companies in the UK.

-ENDS-

Note to editors

About Vista Equity Partners
Vista Equity Partners, a US-based private equity firm with offices in Austin, Chicago and San Francisco, with over $14 billion in cumulative capital commitments, currently invests in dynamic, successful software, data and technology-based organisations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.

About Advanced Computer Software Group plc www.advancedcomputersoftware.com
Advanced Computer Software Group plc (Advanced) is a leading supplier of software and IT services to both the public and private sectors which assist organisations to improve efficiency and reduce costs.

The Group operates as three divisions:
Advanced Health & Care sells a range of products to the NHS and private healthcare sector including patient workflow management for urgent and unplanned care providers; patient case management for social care providers; mobile applications for care in the community providers and rostering applications for social care settings.

Advanced Business Solutions provides accounting, payroll, HR, CRM and document management solutions to local authorities, healthcare organisations, law firms and private sector businesses including banks, manufacturers, retailers, charities and travel companies.
Advanced 365 delivers managed services to support Group products and to a wide range of customers including banks and financial institutions, membership bodies and healthcare organisations. Services can be delivered either on-premise or as cloud-based models depending on customers' requirements.

Contacts:
Angela Mycock, Advanced Computer Software Group
pr@advancedcomputersoftware.com
+44 (0)7887 415232

This press release was distributed by ResponseSource Press Release Wire on behalf of Advanced in the following categories: Business & Finance, Education & Human Resources, Public Sector, Third Sector & Legal, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.