Last checked at 23 Dec 2008 09:09
| Press Release | 23 December 2008 |
Focus Solutions Group plc
("Focus Solutions" or the "Group")
FOCUS SOLUTIONS GROUP PLC ANNOUNCES ACQUISITION OF THE COACHING PLATFORM
Focus Solutions Group plc, an established supplier of enterprise solutions to the financial services industry, announces today the acquisition of The Coaching Platform Limited., a specialist financial services consultancy and training resource company for an initial cash consideration of £100,000. A deferred earn-out consideration to be satisfied half in cash and half in shares of up to £300,000 will also be payable on achievement of certain future profit targets by 31 March 2010.
The acquisition when combined with focus:360°, the Group's multi-channel technology platform, brings to Focus powerful training and competency capabilities, including classroom training, online training and online assessment. Following the acquisition, training provided by the Group will enable distributors to align their skills and qualifications to the regulatory requirements of The Financial Services Authority's Retail Distribution Review (RDR), which aims to deliver improved outcomes for retail consumers.
The Coaching Platform's turnover for the year ended 30th September 2008 was £122,000.
Richard Stevenson, CEO of Focus, commented: "We have seen an increasing demand from the industry to provide an integrated training and competency module to support regulatory requirements. The acquisition of The Coaching Platform provides Focus Solutions with this capability and enables us to further differentiate ourselves in the market and make focus:360° an even more attractive proposition to the adviser community."
Alison Young, Director of The Coaching Platform Limited said: "We are absolutely delighted to be part of the Focus brand who have an outstanding reputation for product innovation and service delivery in the banking and IFA sectors. We now have the opportunity to take our training and consultancy expertise to their blue-chip client base as part of the focus:360° product. An integrated proposition, combining the very best learning content and testing solutions with a multi-channel, compliant sales process is exactly what the industry has been looking for."
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For further information:
| Focus Solutions Group plc | |
| Richard Stevenson, Chief Executive | Tel: +44 (0) 1926 468300 |
| Martin Clements, Finance Director | www.focus-solutions.co.uk |
| Daniel Stewart & Company plc | |
| Graham Webster | Tel: +44 (0) 20 7776 6550 |
| www.danielstewart.co.uk |
Media enquiries:
| Abchurch | |
| Heather Salmond / Joanne Shears / Mark Dixon | Tel: +44 (0) 20 7398 7709 |
| Joanne.shears@abchurch-group.com | www.abchurch-group.com |
Notes to editors:
About Focus Solutions Group plc
Focus Solutions is an established and proven supplier of enterprise solutions to the financial services industry in the UK, Ireland and more recently across Europe.
Focus Solutions has delivered over 100 complex front office projects with multiple integration points and partners to a blue chip client base including 8 out of the top 10 UK Life & Pension providers, a number of leading bancassurers including the likes of HSBC, Irish Life and Barclays, significant wealth management players such as St James's Place and a number of mortgage distributors. The technology truly enables straight through processing whilst providing an engaging client and adviser experience to submit and service business electronically.
focus:360° is at the core of all client implementations providing a single, agile, multi-channel technology platform. Focus Solutions has brought together three key areas of expertise: software, consultancy and service delivery. This totally integrated approach means clients can distribute any product across any channel. At the same time they can maintain an enterprise-wide view of the customer value and risk.
For further information on Focus Solutions, please visit www.focus-solutions.co.uk
About The Coaching Platform Limited
The Coaching Platform is a specialist financial services consultancy and training resource company providing consulting and training and development solutions to a UK and overseas customer base. Its expertise lies in utilising consultancy and training to drive specific business outcomes and develop people.
With long term mutually beneficial partnerships formed with its customers, the Coaching Platform has brought about raised competence levels across employee groups, improved business processes and increased profitability.