Irish proprietary business software company AMT-SYBEX has been acquired by UK outsourcing group Capita plc for stg£105m.
AMT-SYBEX, headed by Pearse Mee and founded in 1990, provides software and related services in mobile technology and smart data management to utilities and transport industries.
Capita will pay stg£82m in cash and a further stg£23m if targets are met in the next year.
AMT-SYBEX is forecasting an operating profit of stg£13m from a turnover of stg£45m in the current financial year ending January 2015.
Last year, the company made a stg£4.1m profit on a turnover of stg£30.96m.
The company carries out most of its business in the UK and Ireland.
Clients include water companies and energy companies, such as Bord Gáis and the ESB, most of the UK’s main public transport providers, and public bodies, such as the NHS.
AMT-SYBEX’s latest developed applications will enable data capture from smart meters as they are rolled out in the UK and throughout Europe.
“There are therefore synergies with Capita’s existing footprint as it works within the utilities markets to drive transformational change, improve efficiency, use data analytics to improve customer attraction and retention and get businesses and customers better connected through using digital and other channels more effectively,” said Capita chief executive Andy Parker.
“In addition, AMT’s products and services, particularly as part of a wider Capita offering, have valuable applications in a range of other sectors, including health, defence, oil and gas and the finance and insurance markets. We look forward to welcoming the business into Capita and working with it to realise its full potential,” Parker said.
Board members include Lord Sebastian Coe and former head of corporate finance at Davy Stockbrokers, Tom Byrne.
AMT-SYBEX employs around 250 employees based in Dublin, Belfast, Glasgow and Letchworth.
Business innovation image via Shutterstock
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