Advanced Computer Software's BSG wins outsourcing deal from Cazenove

Advanced Computer Software (AIM: ASW) said its subsidiary Business Systems Group (BSG) achieved its first major success since being acquired by ACS, landing a multi million pound five year technology outsourcing contract from financial adviser Cazenove Capital Management Ltd.

BSG’s platform will now host Cazenove’s core IT infrastructure and business applications.

ACS acquired BSG in June for £15.5 million to provide services to the primary care sector.

A month later, it bought StaffPlan, which makes software for homecare providers, paying £1.36 million.

In September ACS announced the acquisition of Indian developer Oak Labs Private Ltd to significantly enhance its product development strategy, adding a proven, cost-effective and immediately productive team of 22 developers principally based in Bangalore, India.

ACS specialises in providing software and IT services to the Primary Care sector.  Its patient management system services more than 95% of Out-of-Hours Primary Care operational hubs and 50% of NHS Walk-in Centres in England. CEO Vin Murria’s strategy is to grow the business through a combination of organic growth, product innovation, technical collaborations and the acquisition of businesses with strong product offerings and the potential for cross-selling.

In May the group raised £43.75 million before expenses through a placing of 145.25 million new ordinary shares at 30 pence each with new and existing institutional shareholders, and said that this, together with its existing cash, gives it more than £55 million for pursuing its goal of becoming the leading consolidator in the primary care IT market. Murria commented in May:  "There are numerous opportunities to consolidate the fragmented and undeveloped IT infrastructure within the NHS and these additional funds give us the capability to implement our strategy more quickly."

One of Murria’s key policies is her focus on buying profitable businesses for low multiples of their earnings - a fact she is proud of. “The average P/E on my last 17 acquisitions has been less than four,” she said.

A veteran of the enterprise software sector, having spent 16 years at Kewill Systems, where she reached the position of chief operating officer, Murria made a name for herself as a chief executive when she significantly boosted returns for shareholders of fellow AIM-quoted firm Computer Software Group during her tenure in charge of the business.

The CEO became the overall winner at the Asian Women of Achievement Awards 2009 in May, being described by the judges as a "perfect ambassador and role model for Asian women in Britain". She was awarded for setting up a foundation to support the education of children in India.

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