Thu, 26 Jan 2012 | MERGER
West Yorkshire-based software firm Atlantic Global has agreed to a £5.2 million takeover by a US firm after putting itself on the market.
Minnesota-based international software company KeyedIn Solutions, which has an office in Ilkley, West Yorkshire, had been very interested in the firm since August.
Atlantic Global had begun to invite expressions of interest last September to assist in its own growth.
KeyedIn’s managing director, James Waterhouse, commented on the deal: “This is a great opportunity both for KeyedIn and Atlantic Global. This move safeguards Atlantic Global’s presence in Yorkshire whilst at the same time opening up significant international opportunity for expansion.
“We believe that the ability to take this product into the US and deliver growth will be of great benefit to both current customers and the team at Atlantic Global.”
Atlantic Global’s clients include Aviva, Virgin Mobile, Computacentre and HSBC. Founded in 1993, it develops software to assist its customers in managing people and projects, directly on their computers or remotely.
The firm has been performing well during the economic hardships of the recession and is also benefiting from a Middle East partnership.
It is also “small and unlikely to deliver significant additional shareholder value either organically or by bolt-on acquisition in the short or medium term,” KeyedIn founder George Klaus said.
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