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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
How to boost your pension by £33,000 by paying it an annual Christmas bonus
Contributing an extra £400 into your pension pot this festive period will give the gift of compound interest and should make your retirement feel more jolly and bright
By Ruth Emery Published
-
Japan’s medium-sized stocks provide shelter from trade wars
Nicholas Price, portfolio manager of Fidelity Japan Trust, tells us where to invest in Japan
By Nicholas Price Published