Capita acquires Ramesys for £15m

Capita Group has acquired educational specialist Ramesys in a £15m cash purchase sealing a deal first mooted at the start of the month. Ramesys backer Lloyds Development Capital had been looking to make a clean break from its involvement with the dealer after it decided it would no longer con

Pindar.jpgCapita Group has acquired educational specialist Ramesys in a £15m cash purchase sealing a deal first mooted at the start of the month.

Ramesys backer Lloyds Development Capital had been looking to make a clean break from its involvement with the dealer after it decided it would no longer continue to invest in the loss-making company.

Capita emerged as the front runner earlier this month to pick up the education specialist, which has several Buildings Schools for the Future contracts, and announced the cash free, debt free deal had been made this morning.

Paul Pindar, CEO of Capita Group (pictured), said in a statement that Ramesys not only had an existing client base but it would complement its services and software operations.

"This acquisition will allow us not only to broaden and deepen our own expertise in the education technology market but will allow us to compete for larger and more complex education IT projects," he said.

In response Mark Chambers, CEO of Ramesys, said that the backing of Capita would enable it to target "the huge, untapped potential in the integrated education ICT market".

"In addition a number of Capita's existing businesses and services fit naturally with Ramesys for the delivery of a number of commercial projects and public sector initiatives," he added.

Ramesys has been a name in the channel since 1980 and was sold by Misys in 1999 to an MBO. Last year it reported a pro forma operating loss of £2.9m on a turnover of £34m.

Ramesys acts as lead ICT provider on seven BSF contracts: Nottingham,Manchester, Waltham Forest, Westminster, Tower Hamlets, Greenwich and Tameside.

In addition, the reseller is a sub-contracted ICT provider on three further BSF contracts: Liverpool, Rochdale and Derbyshire.

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