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Acquisition

15 Feb 2007 07:01

Bond International Software PLC15 February 2007 For Immediate Release 15th February 2007 Bond International Software plc ("Bond" or "the Company") BOND ACQUIRES STRICTLY EDUCATION LIMITED TO FURTHER EXTEND SERVICES IN THE EDUCATION SECTOR Bond International Software plc., the worldwide recruitment, HR and payrollsoftware solutions provider, announced today that it has acquired StrictlyEducation Limited - a specialist service provider to the education sector - fora consideration of £2.68million to funded out of existing cash resources. Strictly Education is a wholly owned subsidiary of Esos Group Limited, a sistercompany of recruitment business Pertemps Limited. Based in Milton Keynes,Strictly Education employs 35 people and provides its HR, finance, propertysupport and payroll services to over 500 schools across the UK. The unauditedaccounts for the year ended 31 December 2006 show revenues of £1.9m, a profitbefore tax of £0.3m and net assets at 31 December 2006 of £0.2m. Following the January 2007 acquisition of GOWI Group, Bond now operates from sixlocations around the UK and has offices in the United States, Australasia, SouthAfrica and Hong Kong with a global team of over 350 employees and turnover inexcess of £20 million. The acquisition of Strictly Education fits in very well with Bond's clearlystated strategy of acquiring businesses in similar and related industries withinthe field of Human Capital Management. It continues to grow in its market bothorganically and through a number of targeted acquisitions. In addition to its market leading recruitment software, Adapt, Bond delivers afocused and dedicated range of solutions that are market leaders within thefield of HR and Payroll - with a particular emphasis in the public, educationand publishing sectors. Steve Russell, Chief Executive of Bond , comments, "We see the education sectoras a tremendous growth opportunity. Strictly Education adds a range of servicesofferings that are complemented by our existing product line and they haveestablished a solid business in the UK dealing with 500 schools in a market ofsome 30,000." Russell adds, "They have a team of highly skilled employees in a vertical marketwhich we see as key to our future activities . More and more schools are takingcontrol of their own administration and outsourcing the fundamentals of HR,finance, property support and payroll." "Our market leading product range fits neatly into what is an establishedrecurring revenue business and there are significant cross selling opportunitiesbetween the existing businesses for both products and services," concludesRussell. Tracey Bovingdon, Managing Director of Strictly Education, who joins Bond asDivisional Director, adds, "By combining our respective skills and products thismerger creates a tremendous platform for not only new business but also theability to provide additional products and services to our loyal customer base." Bond combines people, skills, solutions and infrastructure to deliver excellenceat every level in Human Capital Management. - E N D S For further information, please contact: Buchanan Communications: Tel: 020 7466 5000Tim Thompson / Nicola Cronk / Robin Haddrill Notes to editors: Bond International Software is a worldwide provider of software solutions in thefield of Human Capital management. It is a world leader in staffing software torecruitment consultancies & corporations and provides HR, recruitment & payrollsolutions to the public, education & publishing sectors. It has over 30 yearsexperience in the development and creation of products and services that havebecome industry standards. Headquartered in the United Kingdom, the group alsohas offices in the United States, Australasia, South Africa and Hong Kong with aglobal team of over 350 employees. This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
7th Dec 201612:55 pmRNSResult of General Meeting
7th Dec 20167:30 amRNSSuspension - Bond International Software Plc
17th Nov 20165:10 pmRNSDirector/PDMR Dealings
7th Nov 20165:53 pmRNSNotice of Cancellation from Trading on AIM
4th Nov 20162:00 pmRNSCompletion of sale and resignation of Director
31st Oct 20161:45 pmRNSResult of General Meeting
26th Oct 20163:54 pmRNSFinal Increased Offer Has Lapsed
25th Oct 20169:15 amRNSPosting of Circular
24th Oct 20164:27 pmRNSAdjourned General Meeting
24th Oct 201611:52 amRNSFurther update on recommended improved Sale
24th Oct 20167:00 amRNSRecommendation of STG's further improved terms
20th Oct 20165:05 pmRNSPosting of Circular
20th Oct 201612:15 pmRNSUpdate on Sale (Replacement)
19th Oct 201610:29 amRNSRecommended Final Increased Cash Offer
18th Oct 20161:06 pmRNSRule 2.9 Announcement
18th Oct 201610:40 amRNSForm 8 (DD) - Bond International Software plc
17th Oct 20163:36 pmRNSIssue of Equity
12th Oct 20165:37 pmRNSPosting of Final Increased Offer Document
11th Oct 20167:00 amRNSFinal Increased Cash Offer
10th Oct 20164:16 pmRNSStatement re Withdrawal of Irrevocable Undertaking
10th Oct 20169:30 amRNSForm 8.5 (EPT/NON-RI)
7th Oct 20169:39 amRNSForm 8.5 (EPT/NON-RI)
6th Oct 20169:42 amRNSForm 8.5 (EPT/NON-RI)
5th Oct 20161:40 pmRNSFurther Adjournment of General Meeting
5th Oct 201610:16 amRNSForm 8.5 (EPT/NON-RI)
5th Oct 20169:02 amRNSUpdate on recommended improved Sale
5th Oct 20168:55 amRNSRecommended improved terms and notice of GM
4th Oct 201610:43 amRNSForm 8.5 (EPT/NON-RI)
3rd Oct 20166:04 pmRNSPosting of Revised Offer Document
30th Sep 20167:00 amRNSOffer Update: Acceptances and Offer Extension
29th Sep 201611:05 amRNSForm 8.5 (EPT/NON-RI)
28th Sep 20163:45 pmRNSGeneral Meeting Adjournment
27th Sep 20165:58 pmRNSUNAUDITED INTERIM RESULTS
27th Sep 201610:40 amRNSForm 8.5 (EPT/NON-RI)
26th Sep 20166:21 pmRNSAdjournment of General Meeting
26th Sep 201610:15 amRNSForm 8.5 (EPT/NON-RI)
26th Sep 20169:49 amRNSStatement of intention not to make an offer
23rd Sep 20163:57 pmRNSUpdate on Sale and Property Valuation
23rd Sep 20167:00 amRNSRecommended Revised Cash Offer
21st Sep 201610:39 amRNSForm 8.5 (EPT/NON-RI)
14th Sep 20169:44 amRNSForm 8.5 (EPT/NON-RI)
12th Sep 20165:54 pmRNSProposed sale
8th Sep 20166:02 pmRNSOffer Update: Acceptances and Offer Extension
8th Sep 201610:25 amRNSCash receipt in settlement of loan note
2nd Sep 20167:00 amRNSStatement regarding possible offer by ESW Capital
1st Sep 20164:46 pmRNSStatement re Possible Offer
1st Sep 20164:40 pmRNSPosting of Circular
23rd Aug 20164:10 pmRNSResponse to unsolicited offer
19th Aug 20164:40 pmRNSCompletion of sale
18th Aug 20164:30 pmRNSPosting of Offer Document

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