Ramesys sold to Capita in £15m deal
Who?
Outsourcing giant Capita Group.
Did what?
Has acquired Nottingham-based Ramesys from Lloyds Bank in a deal worth £15m.
What does this mean?
Ramesys, which employs 300 people in Nottingham, is a provider of integrated ICT solutions to the education and commercial sector. The company acts as lead ICT provider on seven Building Schools for the Future (BSF) contracts in Nottingham, Manchester, Waltham Forest, Westminster, Tower Hamlets, Greenwich and Tameside. Ramesys is also a sub-contracted ICT provider on three further BSF Contracts in Liverpool, Rochdale and Derbyshire. Ramesys was established in 1980 and in 1999 was sold by Misys to a management buyout.
In 2009, it made an operating loss of £2.9m on a turnover of £34m. Mark Chambers, chief executive officer of Ramesys, said: “The backing, both business and financial, of a company the size of Capita, will enhance significantly our ability to exploit the huge, untapped potential in the integrated education ICT market. In addition, a number of Capita’s existing businesses and services fit naturally with Ramesys for the delivery of a number of commercial projects and public sector initiatives.”
Insider comment:
Paul Pindar, chief executive officer of the Capita Group said: "Both Ramesys' existing client base and the nature of its business provides powerful synergies with our existing ICT and software services businesses. This acquisition will allow us not only to broaden and deepen our own expertise in the education technology market but will allow us to compete for larger and more complex education IT projects."
