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|Advanced Computer Software Group plc goes private in £750 million deal with Vista|
|Thursday, 19 March 2015|
Leading UK software provider, Advanced Computer Software Group (“Advanced”), today announced that it has been acquired by Vista Equity Partners (“Vista”), a private equity firm with over $14 billion in committed capital, for an enterprise value of £750 million. Shareholders will receive 140 pence per share equating to an equity value of approximately £725 million. The takeover puts Advanced in a powerful financial position to invest in and develop the business through the next phase of growth, supporting its ambition to become a major global player.
"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, CEO of Advanced Computer Software Group. "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.”
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