Advised The Capita Group plc on a successful £77.7 million cash offer for IBS OPENSystems plc
Advised The Capita Group plc (LSE: CPI), the leading provider of business process outsourcing and professional support services and FTSE 100 company, on the successful £77.7 million recommended cash offer for IBS OPENSystems Plc (AIM: OPN).
- IBS OPENSystems plc, a London AIM market listed company, was acquired by the Capita Group, the UK FTSE 100 listed business process outsourcing company, for a total consideration of some £78million
- IBS OPENSystems plc was a leading provider of software systems and related services for the management of social housing (commonly known as ‘housing systems’) and the collection and payment of revenues and benefits (commonly known as ‘revenues’ or ‘revenues/benefits systems’) to local authorities and housing associations in the UK
- The acquisition of IBS OPENSystems will add to the breadth and depth of Capita’s existing capabilities, particularly in the provision of housing systems for local authorities and housing associations
- Strata Partners acted as the exclusive financial adviser to Capita, advising about all aspects of the public offer
- The team at Strata met an extremely tight timetable and gave insightful strategic advice about potential competing offerors
- The Capita Group plc (LSE: CPU), is a leading provider of business process outsourcing and professional support services. A FTSE 100 company, Capita is quoted on the London Stock Exchange, with a market capitalisation of approximately US$ 8 billion