And now its an MBO for SOS
This morning Solicitors Own Software (SOS), providers of legal practice and case management software and services, announced a management buy-out (MBO) by the current executive team, following the planned retirement of founder Michael Platt. The management team affecting the MBO includes directors Keith Denman, Elaine Galvin, Graham Colbourne, Stephen Parry and David McNamara, formerly sales & marketing director who now becomes managing director. The financial details of the MBO were not disclosed.
Although this bucks the current trend for independent legal software suppliers selling out to larger conglomerates, Michael Platt said securing the independence of SOS was a paramount prerequisite for his retirement. “I firmly believe that this is the best outcome for clients and staff in terms of continuity of service, on-going product development and maintaining choice in the market. I am leaving SOS in the safest hands.”
The SOS management team has served some 55 man (& woman) years at SOS and is committed to remaining focused on providing the best integrated practice management and case management software. Newly appointed managing director, David McNamara comments “There has been widespread consolidation of software suppliers through recent mergers and acquisitions. We believe that many law firms will be let down as some legal software will inevitably be dropped and law firms will be forced in a direction that they don't necessarily want to take. Our MBO ceases any speculation that SOS clients would suffer a similar fate and that they can look forward to continued high levels of service and innovation, in the years to come.”