VT Software Solutions acquired by Civica plc

VT Software Solutions has been acquired from VT plc, by Civica plc, the software and services group.

Based in Birmingham and Bristol, VT Software specialises in fleet and asset management systems and related services. Its award winning, Tranman software is the market-leading solution in public sector organisations, with over 100 local authorities and government agency customers. Its Servitor software solution, the leading housing repairs software for local authorities and housing associations, is currently in use in over 50 sites in the UK. VT Software Solutions’ client list also includes a wide range of commercial organisations, 70% of all UK Police Forces, almost half of all UK Fire Brigades and the UK Ministry of Defence.

Aidan Rowsome, Managing Director, VT Software Solutions, said: “We view this acquisition as very positive for VT Software Solutions.  Civica has a strong presence in all of our markets and in particular the move significantly strengthens our position in social housing, local government and the emerging service management markets. 

He continues, “Both companies share common goals in terms of technology, service provision and growth strategy.  The change in our parent company will not affect our contracts with customers or the service we deliver - Civica is committed to building long term relationships with our clients. Our relationships with other VT Group companies will remain close and we will continue to work with them to deliver service to our joint clients.”

The consideration for the acquisition, to be satisfied in cash, is £3.0 million. In the year to 31 December 2005, VT Software achieved turnover (under Civica accounting policies) of £7.1 million and made operating profits of £0.4 million. As at 31 December 2005, it had gross assets of £4.9 million (including £1.1 million of cash). Civica expects the acquisition to be immediately earnings enhancing for the Group.

As part of the transaction, Civica has also entered into a partnership with VT Group plc to develop joint opportunities within the defence and emergency services markets.