Update on BSG Strategic Review
01 7월 2009 - 5:04PM
UK Regulatory
TIDMASW TIDMBSG
RNS Number : 8770U
Advanced Computer Software PLC
01 July 2009
Advanced Computer Software Plc
("ACS" or "the Company")
Update on BSG Strategic Review
Advanced Computer Software Plc (AIM: ASW), a leading provider of
software and IT services to the Primary Care sector, announces the results so
far of its strategic review of Business Systems Group Holdings Plc ("BSG"),
which was acquired on 12 June 2009 (via declaration of an unconditional offer).
ACS has agreed to outsource its infrastructure resale business effective from 1
July 2009 to BT Engage IT Limited ("BT Engage IT"). The agreement allows BSG
customers to benefit from greater scale, breadth of portfolio and efficiencies
of BT Engage IT, while continuing to enjoy the highly focused services delivered
by BSG. Under the agreement BSG will continue to provide IT services to the
shared customers while BT Engage IT will meet their hardware requirements. BSG,
as part of the ACS group, will now concentrate on the core business of providing
managed services and solutions and of supporting the roll out of new ACS's
health care product offerings.
Under the terms of the partnership agreement with BT Engage IT, BSG will receive
a percentage of the gross margin achieved by BT each year for three years
subject to a minimum of GBP0.5m per annum and 26 BSG employees will be
transferred to BT Engage IT. The proceeds will be used by ACS to pursue its
growth strategy.
The infrastructure business contributed GBP1.1m to overheads of the BSG group
in the year to 31 March 2008.
Vin Murria, CEO ACS said
"We have undertaken a strategic review of the entire BSG business as we said
when we announced the BSG acquisition. This review quickly identified that BSG's
core businesses of managed services and solutions will support ACS' long term
strategy of organic and acquisition growth but that the infrastructure business
is better served through a partnership with BT Engage IT. This agreement allows
us to continue focusing on the growth of managed services whilst still
supporting customers in their infrastructure needs."
Enquiries:
Advanced Computer Software Plc
Vin Murria, Chief Executive Officer
+44 20 7831 5088
Karen Bach, Chief Financial Officer
Seymour Pierce Ltd
Richard Feigen +44 207 107 8047
Sarah Jacobs
Christopher Wren
College Hill
Adrian Duffield +44 20 7457
2815
Carl Franklin
This information is provided by RNS
The company news service from the London Stock Exchange
END
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