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.

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".

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

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