UK software provider Advanced Computer Software Group, a major supplier to the NHS and other markets, has been acquired by US investment firm Vista Equity Partners for £750 million.
Advanced provides software and IT services for the NHS and private healthcare and for payroll, CRM and document management needs, among other areas.
The new owners say they want to make Advanced a “truly global” business, echoed by Advanced's CEO. "This acquisition means we now have the major financial backing we need to support us through our next phase of growth and establish our position as a serious global player,” said Vin Murria.
"Our customers will benefit from increased investment in our product and services as we continue to offer innovative and leading edge technology solutions implemented both on-premise and, increasingly, via a subscription model,” he said.
Founded in 2008, Advanced claims to be the third-largest UK-based software provider to the UK market, with more than 2,000 employees and 20,000 customers.
The group has grown revenue to more than £200 million through a programme of complementary acquisitions and organic growth. Brian Sheth, president of Vista Equity Partners, said: “Vista will help Advanced build on that success by contributing professional expertise, proven best practices, and management techniques that will help Advanced continue to deliver operational, product and service excellence.”