Advanced Computer Software PLC (AIM: ASW) said it bought StaffPlan Ltd), a London based domiciliary and homecare software provider in a cash and equity transaction for £1.36 million.
StaffPlan's Roster software provides an advanced rostering and administration solution, designed specifically for community care providers.
The business, which was launched in 2000, posted revenue of £1.48 million in the year ended March 2009.
StaffPlan's customers include 30 local authorities including Blackpool Council, Derbyshire County Council, London Borough of Sutton, Cheshire County Council, and Leeds City Council, along with Primary Care Trusts such as Camden and Peterborough.
StaffPlan also serves major independent providers of nursing and homecare services including Supporta Care, Independent Living Services, Age Concern and Carewatch Care Services.
Of the £1.36 million, 0.57 million will be paid in cash and £0.79 million in 2,332,356 ACS shares, allotted at 34 pence each.
CEO Vin Murria said: “The acquisition of StaffPlan allows us to develop further our reputation as a leading supplier of innovative software solutions to the very substantial homecare sector, an area where literally thousands and thousands of carers still use paper for their schedules and patient treatment management.”
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 told Proactiveinvestors.
In August 2008 ACS bought Adastra for £12.9 million, an EV of £10.6 million. Adastra provides clinical and operational workflow applications that serve out-of-hours functions, including NHS Direct and NHS 24, as well a NHS walk-in clinics. In May 2009 ACS in announced plans to buy BSG in a recommended cash deal valuing BSG at around £15.5 million. The deal became unconditional in all respects on June 15.