Advanced Computer Software Group has made another acquisition, buying Fabric Technologies for £4.6m in cash.
The group raised a ‘war chest’ in 2009, which it said it would use to buy complementary businesses, with a particular focus on healthcare.
Since then, ACS, which bought Adastra Software in 2008, has gone on to snap up Business Systems Group, a hosing and outsourcing company, COA Solutions, which specialised in accounting and data analysis software, and CareSys Software, which provided bed management, rostering and billing systems for community healthcare providers.
Fabric provides managed services and unified communications to 160 ‘mid-market’ customers in banking and professional services. It will be integrated into ACS’s 365 Managed Services division, which is based in London.
An ACS spokesperson said this supported the group’s two other divisions – Advanced Health and Care and Advanced Business Solutions – and provided managed services to a diverse range of institutions, including healthcare organisations.
“This is an earnings enhancing acquisition for ACS which will help to expand its existing managed services division, Advanced 365,” he said. “[Fabric’s customers] fit naturally within the Advanced 365 ambit, and will continue to be supported. It is very much business as usual.”
Chief executive Vin Murria said the group is looking to grow further through acquisitions. “We continue to seek suitable acquisition targets for our health and care and business solutions divisions,” she said.