logo
Share SHARE
FONT-SIZE Plus   Neg

Advanced Computer Software 2012 Adj. EBITDA Up 10% - Quick Facts

Advanced Computer Software Group plc (ASW.L) reported that its 2012 adjusted EBITDA increased 10 percent, to no less than 26.6 million pounds from 24.1 million pounds last year. Full-year revenues from continuing operations is expected to be up 21 percent, to no less than 119.0 million pounds from 98.2 million pounds last year.

Advanced Computer Software Group also announced that Guy Millward, one of the non-executive directors, will shortly become Chief Financial Officer. Barbara Firth, the current Chief Financial Officer, remains on the Board and will become Chief Operating Officer responsible for acquisitions and integration. Paul Gibson will remain COO responsible for operations across the Group.

Advanced Computer Software Group also announced it has acquired Computer Software Holdings from HgCapital LP for 110 million pounds in cash. CSH is a provider of accounting and back office software to the UK professional services market and Customer Relationship Management software for the not-for-profit market. It also provides accounting software to SMEs, as well as mobile solutions for field services operations.

The acquisition will enlarge the company's Business Solutions and 365 Managed Services divisions. It is is highly cash generative and will be immediately earnings enhancing.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Health IQ Insurance Services, a startup focused on providing life insurance for health-conscious individuals, said it has secured $34.6 million in Series C funding, led by Andreessen Horowitz. To date, the company has raised a total of $81 million in funding mostly from its existing investors. General Motors Co. is recalling nearly 49,000 trucks worldwide to fix a fuel tank issue that can increase the risk of a fire. The recall covers Chevrolet Silverado 3500 and GMC Sierra 3500 trucks from the 2011 through 2015 model years, all equipped with dual fuel tanks. Meredith Corp. is reportedly in talks for the acquisition of Time Inc, with a staunch support from billionaire brothers Charles and David Koch. Des Moines-based Meredith is the publisher of Family Circle and Better Homes and Gardens and aims to acquire the publisher of Time, People and Fortune Magazines.
comments powered by Disqus
Follow RTT