Belfast technology services provider ICS Computing has been acquired by UK tech firm Equiniti, which provides shareholder and employee services.
ICS employs 300 people at its offices in Belfast, Newbury and Chennai, India.
The deal will enable Equiniti to build on its strengths in employee share plans, share registration and pensions administration.
“This is a significant milestone for Equiniti, as we grow our capability to become a business process outsourcing provider,” said William Dye, chief executive of Equiniti.
“Through our existing business we are already experts at managing complex administrative task, often at times of intense pressure and scrutiny.
“These skills, combined with the expertise of ICS – a company we have long-admired – will enable us to broaden our offer into HR and payroll, accounting and distribution services, and public sector software, and hence to provide more services and solutions to our customers.
“The acquisition is an obvious one for Equiniti. Individually, each organisation is a leader in its field and has an unparalleled client base. ICS’s capabilities in Belfast and its Indian-based operations in Chennai will provide us with greater flexibility to provide bespoke customised solutions to our clients and complement our international footprint ambitions perfectly.
“Together, we can provide a more comprehensive offer to our customers and more effectively position our respective businesses for growth,” Dye said.
Formerly part of Lloyds Registrars, Equiniti was formed following the purchase of the business by private equity group Advent International.
ICS recently won ‘Deloitte’s Best Managed Business’ for its success in operations management, HR management, financial and growth potential.
Commenting on the key benefits of the acquisition for the company, which has undergone significant growth over the past three years, ICS’s managing director David Mawhinney said: “With over 270 clients already supported by 300 expert staff, ICS has shown time and again our ability to deliver products and services that support the needs of our clients’ businesses. The combination of our long-established expertise in technology and Equiniti’s strong administrative capabilities will undoubtedly allow us to grow more rapidly.”
ICS was established in 1966 and has since expanded to offer a full range of IT software and services. The ICS client base includes Belfast International Airport, Bunzl McLaughlin, Northern Ireland Civil Service and several NHS Trusts.
By John Kennedy