9 Jun 2015 07:00

microgen
www.microgen.com 9 June 2015
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ACQUISITION OF FINALYSYS LIMITED
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Microgen plc ('Microgen') is pleased to announce the acquisition of Finalysys Limited ('Finalysys'), a Jersey-based provider of wealth management software for the offshore finance industry. The maximum consideration payable for the acquisition is £0.3 million including a deferred element. The acquisition of Finalysys follows the purchase in December 2014 of Unity Software Limited.
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Finalysys will be integrated into Microgen's Financial Systems business. A key element of the strategy of the Financial Systems business is to increase the proportion of its revenue derived from wealth management software through add-on acquisitions. This acquisition provides the Financial Systems business with an increased client and recurring revenue base within its core Trust & Fund Administration sector.
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A number of further add-on acquisitions in the wealth management sector continue to be progressed, although the Board remains prudent and, as always, there can be no certainty that any acquisitions will be completed.
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Contacts
Martyn Ratcliffe, Chairman 020-7496-8100
Philip Wood, Group Finance Director
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Lucy Delaney, FTI Consulting 020-3727-1131