Advanced Computer Software Group, which provides healthcare and business management software and services, has acquired Serco Learning, a UK-based education software provider, which delivers training and support to over 2,000 local authorities, academies, independent schools and higher and further education providers.
The business, which was acquired for a total cash consideration of £7.25m, will be integrated into the group's Advanced Business Solutions division.
In the 12 months ended December 31st, Serco Learning's revenue came in at around £13.5m, of which almost £11.0m contracted recurring, generating approximately £1.2m of adjusted EBITDA (earnings before interest, tax, depreciation and amortisation).
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The share price rose 0.99% to 76.50p by 13:00.
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