Is Vinasty the new 'Lost' ? Vin Murria in new £100m deal
Anyone watching the TV series Lost will know the plot has gone off at a tangent with parallel universes and time travel – but has the same thing happened with the legal IT industry's once favourite soap Vinasty, otherwise known as The Adventures of Darth Murria? Here's a report just in today from Accountancy Age…
Financial software providers, COA, has been acquired by Advanced Computer Software (ACS) for an estimated £100m. COA's parent company Redac Holdings was owned by private equity business Alchemy Partners with the deal going through earlier this week. Vin Murria, ACS Group Chief Executive said: “There are substantial opportunities to cross sell our existing healthcare products into new markets while many of our existing healthcare clients could benefit from management tools in the COA product suite.”
COA customers are generally in the private, healthcare and emergency sectors with ACS focusing on the primary care sector. The acquisition was funded through a £55m banking facility at ACS, term loan of £25m and revolving credit of £30m over three and a half years provided by HSBC.