Acquisition

RNS Number : 5522P

Microgen PLC

09 June 2015

 



microgen

www.microgen.com                                                                                         9 June 2015

ACQUISITION OF FINALYSYS LIMITED

Microgen plc ('Microgen') is pleased to announce the acquisition of Finalysys Limited ('Finalysys'), a Jersey-based provider of wealth management software for the offshore finance industry. The maximum consideration payable for the acquisition is £0.3 million including a deferred element. The acquisition of Finalysys follows the purchase in December 2014 of Unity Software Limited.

Finalysys will be integrated into Microgen's Financial Systems business. A key element of the strategy of the Financial Systems business is to increase the proportion of its revenue derived from wealth management software through add-on acquisitions. This acquisition provides the Financial Systems business with an increased client and recurring revenue base within its core Trust & Fund Administration sector.

A number of further add-on acquisitions in the wealth management sector continue to be progressed, although the Board remains prudent and, as always, there can be no certainty that any acquisitions will be completed.

Contacts

Martyn Ratcliffe, Chairman                                            020-7496-8100

Philip Wood, Group Finance Director

Lucy Delaney, FTI Consulting                                        020-3727-1131

 

END

 

 

ACQSSAFLAFISEEM