Safe Computing makes fourth buyout
Safe Computing, a Leicester-based software development and outsourcing business, has bought Intersoftware Recruitment Solutions. The purchase of Manchester-based Intersoft is Safe’s fourth acquisition in the last two years.
Under the terms of the deal, which was agreed for an undisclosed sum, Safe has taken a stake in the business alongside the existing three-strong management team of Intersoftware.
Safe, which now employs 150 people, said the purchase was “part of a planned growth strategy” which aims to increase the company’s turnover to more than £13m in 2011.
Intersoftware, which provides recruitment software solutions, has been operating for more than 20 years.
Sandy Scott, managing director of Safe Computing, has become non-executive chairman of Intersoftware.
Scott said: “We have been aware of Intersoftware for many years and have always held their products in high regard. When the opportunity came to support the management team in a buy-out we were keen to be involved. Intersoftware’s products target the smaller end of the market when compared to Safe’s and so this deal means that together we can satisfy customer demand on a much broader scale”
Lead adviser on the transaction was John Sykes, head of Skye Corporate Finance.
Legal advice to Safe was provided by Simon Dakin of Actons Solicitors in Nottingham. Tax advice was provided by Emma English of RSM Tenon in Leicester.
