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Mark Thompson

We are delighted to announce the next step in our growth story – our fourth acquisition in less than 9 months

Acquisition boosts m-hance’s ERP, CRM, Document Management, HR & Payroll and vertical market offerings.

m-hance, the UK’s fastest-growing provider of business software solutions to mid-sized organisations, has acquired sub-divisions of Maxima Holdings plc’s Maxima Business Solutions Division (“Maxima”).

For the financial year ended 31 May 2011, the sub-divisions being acquired reported combined revenue of £7.2 million and segmental adjusted EBITA (pre-exceptional costs, share based payments, capitalisation of R&D, central overheads and amortisation) of £1.9 million.

This acquisition, the company’s fourth since June 2011, will consolidate m-hance’s presence in its strategic vertical markets and strengthen its focus on infrastructure and project services industries. It also supports m-hance’s strategy of adding value to its customers by expanding its own range of intellectual property (IP) solutions within these target vertical industry sectors.
This deal, in conjunction with m-hance’s previous acquisitions of Gyrosoft, Trinity Computer Services and Touchstone GP elevates the company’s customer base to 2400.

The acquired businesses’ portfolio span a broad spectrum of applications software solutions including sector-specific ERP and CRM products, Document Management, HR and Payroll and Business Intelligence. The businesses, whose customers include The Murphy Group, Hewden and SPI nPower UK, have 69 staff and are supported by an offshore development facility in India.

Mark Thompson, CEO of m-hance, comments, “We are delighted to announce the next step in our growth story – our fourth acquisition in less than 9 months. This acquisition establishes m-hance as a leading UK innovator of business software solutions to mid-sized services and infrastructure sector organisations. This positions our company to offer both existing and new customers the benefits from a wider product portfolio of market-leading technology and superior services and support.”

Thompson continues, “The merged businesses’ combined product portfolios are a perfect complement, providing us with excellent cross-selling and up-selling opportunities for our extensive customer base.”

Under the terms of the deal the total gross consideration payable by m-hance is £6.8 million, of which £6.5 million has been paid in cash on completion and a further £0.3 million is deferred for 27 months.

-ENDS-

*NB to arrange an interview with m-hance CEO Mark Thompson please contact Ben Carey, T: (0)7713 196971, E: ben.carey@m-hance.com

About m-hance www.m-hance.com

m-hance is a UK-based company providing innovative and functionally rich business software solutions to 2400 mid-market sized organisations including G4S, Stafford Lynch Hewden and Endsleigh Insurance. m-hance’s core solutions offering consist of financial management, CRM, HR & Payroll, managed services and software development in a variety of vertical markets including distribution, manufacturing, not-for-profit and professional and infrastructure services.

m-hance has been formed following the acquisitions of Calyx Software, Gyrosoft, Trinity Computer Services and elements of MentecPlus, Touchstone Group and Maxima Holdings plc. m-hance is a leading supplier of innovative business software to mid-sized organisations. m-hance is currently supported by 230 staff from offices in Manchester, London, Loughborough, Dublin and Glasgow.

Press Contact:
Ben Carey, PR Manager
T: 07713 196971 e: ben.carey@m-hance.com

This press release was distributed by ResponseSource Press Release Wire on behalf of m-hance Ltd in the following categories: Business & Finance, Manufacturing, Engineering & Energy, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.