Northgate completes acquisition of Anite Public Sector |
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sarah davies 03-Nov-2008 - [Northgate Public Services] NEWS RELEASE 3rd November 2008 Northgate completes acquisition of Anite Public Sector Northgate Information Solutions, a leading provider of innovative services to the public sector and utilities markets, today announces that it has completed the £54.3m purchase of Anite Public Sector Holdings Ltd as part of its long term strategic expansion programme in supporting public service transformation. The deal confirms Northgate’s position as the UK’s leading player in the local government, social housing and criminal justice public services markets. It comes seven months after the acquisition of Northgate Information Solutions plc by private equity firm Kohlberg Kravis Roberts & Co (KKR). The acquisition is part of a long term strategy to broaden and strengthen Northgate’s capacity to meet its clients’ changing needs for citizen-centred services. It builds on the Northgate Public Service strong track record of successfully integrating seven acquisitions in the last five years. The acquisition strategy has generated profitable growth through promoting a performance culture, driving through innovation and putting quality at the heart of everything the company does. Northgate’s clients are set to benefit from continuously improving services as a result of enhanced investment, economies of scale and the combination of the organisations’ key strengths. The new organisation will have an unrivalled capability to deliver business-focused change programmes and integrated services to the local government, social housing and police and criminal justice public services markets. Northgate will add to its leading position in revenues and benefits and housing by providing a comprehensive range of services including social care and enhanced document management services. David Meaden, Chief Executive of Northgate Public Services, said today: “I am delighted that we have completed the deal which will bring real benefits to our clients, our employees and to our company as a whole. It marks an exciting new stage in our development and we look forward to the opportunities that will come as a result. “Our ambition for our company is matched by our ambition for public services. We are fully committed to supporting public service transformation through innovation and the development of new forms of performance partnerships. “This acquisition broadens and strengthens our capacity and our capability to successfully respond to large scale, strategic and complex procurements and deliver realisable outcomes. Successful transformation requires services which place citizens’ needs at their heart. This deal enhances and extends our ability to support our clients in achieving this crucial change.” -Ends- David Meaden is available for interview For more informationFellows’ Associates: Kathy Sutton 020 7395 1516; 07966 890401; ksutton@fellowsassociates.com Kuntal Biswas 020 7395 1517; 07930 566291; kbiswas@fellowsassociates.com Notes to editors 1. Northgate Information Solutions is a leading provider of innovative services to the public sector and utilities markets. Northgate’s task is to enhance public value through the intelligent use of people and technology, and to share in the economic and social benefits that this brings. 2. In the UK, the company works with four out of five local authorities and every police force. Northgate supports public service transformation through sustainable performance partnerships. Its services are used in the administration of more than £12 billion of revenues and benefits; in electoral administration systems covering 18 million people; to support the national system for reporting police performance; and in the management of over three million local authority and housing association properties worldwide. Founded in 1969, the company now has over 7,500 employees. 3. Anite is a market leader in software and solutions whose primary business is the provision of industry-specific solutions based on its deep sector knowledge of the wireless telecoms, public sector, and travel markets. It is a market leader in software and solutions to key parts of local government, such as social care solutions - as well as an important supplier of secure information solutions (SIS) to the criminal justice markets. Anite Public Sector comprises two businesses: Anite Public Sector Limited (the Anite local government business) and Anite Secure Information Solutions Limited (the SIS business). 4. The deal was completed for a total cash consideration of £54.3 million, subject to the settlement of a £3.8 million receivable owed by Anite to Anite Public Sector and a working capital adjustment following completion. The Board of Anite announced that the resolution to approve the disposal of Anite Public Sector Holdings Limited, as detailed in the circular sent to shareholders dated 1 August 2008, was passed at a General Meeting on 29 August 2008. The OFT cleared the acquisition on 27th October 2008. |
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