Last checked at 9 Jun 2015 07:00
microgen
www.microgen.com 9 June 2015
ACQUISITION OF FINALYSYS LIMITED
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.
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.
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.
Contacts
Martyn Ratcliffe, Chairman 020-7496-8100
Philip Wood, Group Finance Director
Lucy Delaney, FTI Consulting 020-3727-1131