26th Jul 2024 12:49
(Alliance News) - Software Circle PLC on Friday said it has bought Link Maker Systems Ltd for up to GBP4.5 million.
The Manchester-based software business acquirer said it will buy Link Maker up to GBP4.5 million. It said GBP3.0 million will be paid at completion. A further GBP1.5 million will be paid depend on the achievement of certain targets relating to the future financial performance of Link Maker.
"Link Maker's adoption platform joins-up children's social care across the UK to increase placement choice for children, and to improve use of data and collaboration between local authorities and adoption agencies," Software said.
In the financial year ended March 31, Link Maker reported revenue of GBP1.6 million and earnings before interest and tax of GBP890,000.
The acquisition is expected to be cash flow generative and earnings enhancing in the first year after acquisition.
Chief Executive Gavin Cockerill said: "What Link Maker do really matters and we are extremely proud to have the team join us as the second business in our Health and Social Care segment. Together, we believe we can make children's social care more efficient, more secure and more child focussed."
Shares in Software Circle were up 2.1% to 17.36 pence each in London on Friday afternoon.
By Sophie Rose, Alliance News senior reporter
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