Advanced Computer Software Group- Advanced is well known IT software service providers basing in UK. Advanced is enjoying strong customer base in its home market as well as abroad. Advanced has announced its acquisition with Serco Learning- an education software provider. This acquisition is worth for $ 11.6 million or 7.25 million cash out of which 6.25 is to be paid to the Serco Group and 1 million to the outsourcing company iGate to provide the material require in servicing contract. (Serco Groups and iGate were inked in a contract of five years, in 2011 for providing SAP services to the customers of Serco)Advanced is expecting that acquisition will be complete by December 31, 2012.
In this acquisition the Serco Learning business will be integrated with the Advanced’s advanced business solution division to offer back office products like student records service. Currently they have 49 universities and colleges as singed up customers. ACSG has explained that it is a significant opportunity for cross selling the services and products to the customers of public sector. It must also be noted that Serco Learning is also a public sector supplier.
CCEO of Advanced, Mr. Vin Murria has described that this acquisition is earning enhancing and complementing to the offering of current education sector. With this we will be able to greatly enhance and broader offerings in the growing education market of Asia Pacific, UK and Ireland. He further added, here we have also noted cost savings.
Last year on December 31, 2011, Serco Learning has shown revenue of 13.5 million, out of which 11 million was contracted recurring and 1.2 million was adjusted EBITDA.
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