Innovise will fund the acquisition partly through a £500,000 loan and expects it to be earnings enhancing in the next financial year.
David Crook, chairman of Expolink Europe, says: ‘Our software division has grown steadily over the years but has reached a stage where more focus is required to fulfil its potential.’
Wiltshire-based Expolink Software is the software division of Expolink Europe. The company designs and develops IT software for public and private sector organisations for monitoring staff and service performance. In the year to April 2010, Expolink Software reported a turnover of around £900,000. The company competes with Innovise in the facilities management, transport and NHS markets.
Mike Taylor, CEO of Innovise, comments that Expolink Software has been a respected competitor for many years, and adds: ‘I am confident the expanded business will enable us to generate sustainable long-term growth through continued innovation in our chosen niche markets.’
AIM-listed Innovise is a software and IT services provider with clients including the NHS and the security company G4S. The West Midlands-based company also has offices in Berkshire, London and Mumbai.