Northgate Information Solutions today announces that it has agreed to acquire Anite Public Sector Holdings Limited, which incorporates Anite’s local government and secure information systems businesses, for a total cash consideration of £54.3 million payable at completion, subject to the settlement of a £3.8 million receivable owed by Anite to Anite Public Sector and a working capital adjustment following completion. The deal confirms Northgate’s position as the UK’s leading player in the local government and criminal justice public services market.
The deal which comes four months after the acquisition of Northgate Information Solutions plc by private equity firm Kohlberg Kravis Roberts & Co (KKR) demonstrates the new owners’ commitment to expand Northgate’s public service business and to realise value through successful and strategic acquisition.
The acquisition enables Northgate to deliver improved and enhanced services to its local government clients including adding to its leading position in revenues and benefits and housing by becoming the number one provider of social care and document management services. With Anite’s Secure Information Solutions business track record of delivering major business change and technology programmes, the new organisation will have an unrivalled capability of delivering business-focused change programmes and integrated services to the criminal justice and police markets. It also equips Northgate with further skills and capacity to spearhead its move into increasingly strategic and complex public services contracts.
The deal builds on Northgate Public Services’ highly successful track record of delivering value through strategic acquisition. This success lies in promoting a performance culture, driving through product innovation and embedding quality through the process of integration.
David Meaden, Chief Executive of Northgate Public Services, said today: “The acquisition of Anite Pubic Sector is great news for Northgate. It demonstrates how and why KKR’s investment approach makes them an ideal partner for Northgate. We share a common business philosophy for long-term value creation.
“We are committed to supporting public service excellence, building and developing innovative partnerships with our clients to transform public services and place the citizen’s needs at their heart. This deal will help us to provide them with the enhanced services and solutions which form an integral part of that transformation.”
For more information:
Tel: 020 7849 3403
Mob: 07966 890401
Tel: 020 7849 3508
Mob: 07930 566291
Dave Meaden is available for interviews
Notes to editors
1. Northgate Information Solutions is a leading provider of innovative services to the public sector and utilities markets. Northgate’s task is to enhance public value through the intelligent use of people and technology, and to share in the economic and social benefits that this brings.
2. In the UK, the company works with four out of five local authorities and every police force. Northgate supports public service transformation through sustainable performance partnerships. Its services are used in the administration of more than £12 billion of revenues and benefits; in electoral administration systems covering 18 million people; to support the national system for reporting police performance; and in the management of over three million local authority and housing association properties worldwide. Founded in 1969, the company has over 7,000 employees.
3. The acquisition is conditional, inter alia, upon the approval of shareholders at a General Meeting, and approval by the relevant regulatory authorities. The deal is expected to be completed by September 2008 or soon afterwards.
4. Anite is an international software and solutions company whose primary business is the provision of industry-specific solutions based on its deep sector knowledge of the wireless telecoms, public sector, and travel markets. It is a market leader in software and solutions to key parts of local government, such as housing management and social care solutions - as well as an important supplier of secure information solutions (SIS) to the criminal justice markets. Anite Public Sector comprises two businesses: Anite Public Sector Limited (the Anite local government business) and Anite Secure Information Solutions Limited (the SIS) business.
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