The group is acquiring Advanced Computer Systems (ACS), a well-established UK-based specialist provider of IT services focused on the education sector.
AdEPT is initially paying £5.24mln, less the net debt of ACS as at the end of March, to acquire the Doncaster-based firm.
The acquisition is expected to enhance AdEPT’s earnings from the get-go and to increase AdEPT’s revenue run-rate by around 9%.
The acquisitive AIM-listed company said ACS’s IT services are highly complementary to AdEPT’s, with particular expertise in software support for the SAGE accountancy software suite and the Security Information & Management Systems (SIMS) software rage.
"We are delighted to have acquired such a high-quality business with the highly experienced vendors remaining with ACS Group post-acquisition,” said Phil Race, who took over as chief executive of AdEPT late last year.
“AdEPT has an existing education focused IT service operation in Orpington - the acquisition of ACS Group builds on this capability and extends the geographical reach of AdEPT's IT services to Yorkshire. ACS Group has a well-developed customer base with long term relationships, which builds upon AdEPT's existing strong education presence,” Race said.
ACS is expected to work closely with AdEPT’s other unit based in Yorkshire, ETS Communications. Once the acquisition is complete, it is expected that ACS will look to consolidate supplier agreements and integrate various services of ACS Group into the Orpington office of AdEPT.
Kevin McEwen, the managing director of ACS, said the team was looking forward to working with AdEPT.
“Our education focus, providing a broad range of expertise to more than 200 educational establishments, alongside our commercial clients means that AdEPT is an incredibly complementary home for our business,” McEwen said.
In afternoon trading, AdEPT shares were 1.6% higher at 325p.
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