[acs] ACS has just been bought out.

[penfold_99]

ACS have just been bought by private equity firm Vista.

 

Hungry Advanced Computer Software gets swallowed for £725m • The Channel

[vikpaw]

Holy moly!

[GREED]

Quick warning to all those Progresso customers out there

[craynerd]

Quick warning to all those Progresso customers out there

 

Warning?

[Tallwood_6]

Nice, prices shortly to rise then!

[mark80]

2 years after the acquisition from SERCO, sell at a profit, why not!. The short while i worked there was during the acquisition and i was impressed with the takeover by ACS and especially their management that they bought in, the CEO Vin Murria was a very strong person whos business plan was all about buying up undervalued companies and making a profit... she has done that and got out... fair play.

 

Progresso is a small part of the ACS empire but im sure it will continue. Their employees who took share options in Feb 2013 will be ever so slightly happy at a 75% increase

[Tallwood_6]

Yea sadly that profit at least in terms of the arm that deals with CMIS / Progresso seems to derive from inflating product and consultancy/ training costs rather than driving up market share.

[Banjo]

"I am very pleased to advise you that Vista Equity Partners made an offer yesterday to our shareholders to acquire 100% of the share capital of Advanced Computer Software and in so doing take the company off the public market and into private ownership.

 

Vista is a leading private equity firm focused solely on acquiring software and technology enabled companies. Vista has completed 140 software and software-related transactions worth approximately $32 billion in total, including 35 transactions in the last twelve months including Misys in the UK and Tibco in the US.

 

This is excellent news for Advanced and the Board has therefore recommended the offer to our shareholders. If the offer is accepted, it means that we will have a single powerful and well-funded backer with a long-term agenda to invest in and develop our business through its next phase of growth.

 

As our customer this is excellent news for you also, Vista understand us as a business and what we are looking to achieve and are committed to sharing the journey with us and supporting us as we focus on delivering against the requirements of you our customers.

 

For Advanced it is absolutely business as usual, whilst this does present significant opportunity it is merely a change in our funding structure and represents a great belief in what we stand for and the direction we are looking to take our business in.

 

Should you have any further questions please contact your account manager who will be happy to help in whatever way they can.

 

Regards,

 

Steve Dashwood

Managing Director

Advanced Learning"

[GREED]

Good old Steve, nice to hear from him!