Vista acquires ACS for £750m

Vista's £725m offer represents 140 pence per share, a 17% premium on Monday's closing price. The bid has been recommended by the company's directors and a large proportion of shareholders. The deal values ACS at £750m.

ACS has dealt with private equity in the past, having purchased Computer Software Holding (CSH) from buyout backers HgCapital in March last year.

According to unquote" data, the deal marks Vista's third acquisition of a UK software company, having purchased Thomson Reuters' risk businesses in 2011 and Misys in 2012.

Company
AIM-listed ACS is a UK-based software company that provides software for human resources, payroll, finance, accounting and healthcare. Typical clients hail from the commercial, education, financial services, healthcare, legal, retail and local government sectors.

ACS counts 20,000 customers on its books and generates £210m in revenue. The company employs 2,000 people across its 16 UK locations and its global sites in Boston and Singapore.

People
Brian Sheth is president of Vista. Vin Murria is CEO of ACS.

Advisers
Company – Rothschild (Corporate finance).
Equity – Morgan Stanley (M&A).

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• Topics
• UK / Ireland
• Buyouts
• United Kingdom