School payment services provider agrees merger deal

School payment services provider, Coventry-based ParentPay has taken part in a merger to create the UK’s leading schools’ payment and parental engagement business.

ParentPay has joined forces with Schoolcomms, a leader in parental engagement software for schools.

Together, the two firms employ more than 170 people and service over 8,000 schools in more than 190 local authority areas across the UK.  

Jointly, they will provide services to more than three million parents and the group will have a much wider product offering and depth of experience.

Under the terms of the agreement, ParentPay has acquired 100% of the issued share capital in Isuz Ltd, the provider of the Schoolcomms products and services. The boards of directors and shareholders of both companies have unanimously approved the transaction, the terms of which have not been disclosed.

The companies’ existing offices in Coventry, Bude, Worthing, and Bridgwater will all be maintained.

The merger brings together two leading lights in the provision of web and mobile delivered payment and engagement services for schools and parents. ParentPay was a pioneer in developing electronic payments for schools, making collecting monies for school items more efficient. Schoolcomms provides parents with a broad spectrum of products including a Parent App and messaging platform, allowing them to engage more closely and easily in their children’s education.   

Commenting on the deal, Clint Wilson, chief executive of ParentPay said: “Creating greater value for schools and supporting parents is at the heart of both businesses and we are excited about working with the team at Schoolcomms, whose talent and achievements we admire.

“Our complementary products and focus on service excellence allows us to create the leading provider of parental payment and engagement services for schools and families in the UK.

“The deal will allow both companies to achieve more together.  We expect to create greater value for our customers in both the near and long-term, who will benefit from better economies of scale, increased investment in new products and features, and broader expertise in delivering services to schools and parents.”

Tim Perkin, Managing Director of Schoolcomms, added: “We have long respected ParentPay for occupying a leading position in the school payments market and its strong track record of growth.  Our primary objective remains delivering market-leading innovative products to customers with excellent user experience and exceptional customer service.”

Schoolcomms founder, Dave Gove, steps down from his role as chairman following the deal.