Vista Equity Partners-backed ACS buys Modern Systems

With this add-on, ACS expects to expand its offering in the application modernisation market and further develop its US and global footprint.

Vista acquired AIM-listed ACS for £725m – equal to 16x the group's adjusted EBITDA for 2014 – and took the company private in March 2015. The GP deployed capital from its $5.8bn Vista Equity Partners Fund V to finance the acquisition.

ACS employs 2,200 staff, serves 15,000 customers across the public and private sectors in the UK, and generated turnover of £250m in 2018.

Company
Established in 1983 and headquartered in Dallas, Texas, Modern Systems specialises in managing, migrating and modernising existing data for legacy application source code and platform transformation.

People
Advanced Computer Software – Gordon Wilson (CEO).
Modern Systems – Brandon Edenfield (CEO).

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