Advanced Computer wants to turn Fabric to gold
Advanced Computer Software (ACS), a provider of healthcare and business management software, has bought the managed services provider Fabric Technologies.
Advanced Computer Software (ACS), a provider of healthcare and business management software, has bought the managed services provider Fabric Technologies.
ACS is paying £4.6m for Fabric, which provides communication solutions to 160 UK mid-market customers in banking and other professional services. It has 95 employees and turnover of £11.2m of which 58% is recurring, with profit before tax of £0.5m.
ACS says the deal will be immediately earnings enhancing and claims it has identified "early synergies".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Vin Murria, Chief Executive of ACS, commented: "Fabric's market-leading offerings will help drive further cross-selling of managed services into the Group's 7,000 strong customer base."
ACS's share price had climbed 4.7% by 10:56. Over the last year the company has grown 67%.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Rail fares could spike by 5.8% next year – how to save on train travel
July’s RPI inflation reading tends to determine rail fare hikes in the following year. We look at how much your train tickets could cost, and how to save money
-
'Governments are launching an assault on the independence of central banks'
Opinion Say goodbye to the era of central bank orthodoxy and hello to the new era of central bank dependency, says Jeremy McKeown