Advanced completes third acquisition in three months
Published 02/07/2019 by Gordon Wilson, Chief Executive Officer, Advanced
Underpinning Advanced’s commitment to make a difference to their customers and become the UK’s number one software and services supplier
British software business Advanced has completed its acquisition of US-based legacy modernisation leader Modern Systems1, immediately growing its application modernisation revenue by around one third, to more than £30 million.
The acquisition of Modern Systems strengthens Advanced’s goal to become the number one software and services supplier in the UK, whilst expanding its presence in Europe and North America, where Modern Systems has a significant presence and customer base. Modern Systems brings more than 30 years of experience to Advanced, having completed 200-plus modernisation projects, with 1.5 billion lines of code processed through its legacy application source code, data and platform transformation solutions.
Modern Systems is the third organisation to be acquired by Advanced in just three months, and this move further underpins Advanced’s organic and inorganic growth plans. In April, Advanced purchased legal forms and digital dictation software specialist Oyez Professional Services, as well as workforce management and resource scheduling software provider Kirona.
“Today’s business leaders are under constant pressure to reduce costs and streamline operations whilst innovating to gain a competitive edge—all while digitally transforming” comments Gordon Wilson, CEO at Advanced. “Before businesses can take advantage of modern, digital IT methods as part of a digital transformation, they must look to modernise their decades-old legacy systems. By adding Modern Systems to the Advanced portfolio, we are dramatically speeding up our customers’ ability to remove key barriers to achieving digital transformation.
“Additionally, Kirona and Oyez represent a significant boost to our cloud capabilities. Oyez Professional Services represent a strong opportunity to bolster our existing legal practice management and forms solutions, while Kirona extends our Human Capital Management (HCM) offerings to public, private and third sector customers.”
These acquisitions fast-track Advanced’s ability to deliver a broader set of Cloud-based solutions and services to existing customers. By adding Modern Systems, Oyez Professional Services and Kirona, a combined set of more than 3,000 new customers will now be able to benefit from Advanced’s solutions.
Gordon concludes: “We are very clear in our ambitions to grow Advanced to become the leading software and services provider in the UK and want to challenge the other major IT players. These recent acquisitions offer a unique opportunity to accelerate our growth, at pace, by rapidly expanding our product range and market share in the UK. We want to continue to stay ahead of our customer needs, which is why we are actively pursuing more companies to join the Advanced family.”
Advanced is currently the third largest British software and services company, with a £254 million annual turnover, 19,000 customers and 2,200 employees. It provides a range of enterprise and market-focused solutions that allow its customers to make the complex simple and in turn improve the lives of millions of people.
Advanced’s solutions enable a variety of fundamental transactions to take place, including helping care for 65 million patients in the UK, sending 10 million sports fans through turnstiles, managing over £1 billion in charity donations, supporting 2.5 million students and, ensuring 1.2 billion passengers arrive at their destinations on time.