Technology business Advanced Computer Software will pursue acquisitive growth after outlining plans to garner a £44 million war chest.
Vin Murria, CEO of the business, says that the firm has identified ‘numerous’ complementary large and small businesses to acquire on varying timeframes.
Of the £44 million, up to £28.5 million has been placed conditionally using existing shareholder permissions. The balance has been conditionally placed, subject to the passing of the necessary resolutions by shareholders at its general meeting on 4 March.
In 2012, Advanced Computer Software completed three acquisitions: Serco Learning in December for £7.25 million, September’s purchase of Strand Technology for £4.6 million and a May transaction involving Fabric Technologies worth £4.6 million. It also made a £350,000 investment in Avia Health Informatics.
More on deals by Advanced Computer Software:
Murria adds, ‘These additional funds, with our existing cash and bank facility, provide us with the additional resources, financial flexibility and capability to secure those acquisitions, as part of our growth strategy, more quickly and efficiently.’
Advanced Computer Software says its strategy has been to develop the business through a combination of organic growth and complementary acquisitions. This has led to it recording revenues of £100 million.