Access Intelligence makes acquisition
ACCESS Intelligence, the York-based software and computer services group, today announced the acquisition of research and information management business Solcara which boasts clients including Visa and Thomas Cook.
The new acquisition, which was bought from quoted group ArgentVive, made a pre-tax and interest profit of £135,000 on turnover of £1.6m in the year to March 31.
Its founder Ray Jackson has been been appointed as a non-executive director of Access Intelligence.
Solcara, based in Harefield, Middlesex, specialises in developing software to search, identify and analyse information for legal and professional firms as well as in the media relations, crisis management and information access sectors.
On completion of the acquisition Solcara is estimated to have net liabilities of approximately £250,000.
Michael Jackson, Access Intelligence’s executive chairman, said: “Solcara has a blue chip client base covering law firms, leading industrial companies, Government departments, local authorities and police forces across the UK including such companies and organisations as: DEFRA, Visa Europe, Clifford Chance, AstraZeneca, United Utilities and Thomas Cook.
“The acquisition is in line with our plans to focus Access Intelligence on `software as a service’. Solcara fits in well with our existing businesses and we see a number of cross-selling opportunities with other group companies.”
Access Intelligence is made up of subsidiaries in York, Stockport, Manchester, Chorley, Lancashire and Newcastle upon Tyne.
ArgentVive had been hoping to complete a refinancing, sell off non-core subsidiaries and concentrate on building Solcara but had been unable to secure enough funding to invest in the business and so was forced to sell it.
ArgentVive chairman David Mahony said: “As it did not prove possible to refinance the company the board had no alternative but to sell the Solcara business. The restructuring of the other group activities will continue and further announcements will be made as appropriate.”
