TLDR:
- Software Circle acquires ARC Technology, a provider of software solutions for practice-based learning in higher education institutions in the UK and Ireland.
- Total consideration of up to £2.0m will be paid in cash with structured payments based on certain financial targets.
Software Circle, a software investor, announced the acquisition of ARC Technology, a company specializing in software solutions for practice-based learning in higher education institutions in the UK and Ireland. The total consideration for the acquisition is up to £2.0m and will be paid in cash. The initial payment made at completion was £1.1m, with additional payments of £300,000 and £600,000 to be paid based on specific financial targets.
The AIM-listed group expects the acquisition to be cash-flow generative and earnings-enhancing in the first year after completion. Chief executive Gavin Cockerill expressed excitement about the acquisition, highlighting that it aligns well with Software Circle’s goal of becoming a serial acquirer of vertical market software businesses. He welcomed ARC Technology’s team to the group and anticipates further growth in the future.