NCC Group acquires Escrow Europe Holdings


NCC Group acquires Escrow Europe Holdings

Warwick Ashford

International software escrow services provider NCC Group has acquired Escrow Europe Holdings in a £7.8m deal.

NCC said the acquisition will increase the group's share of the European escrow market and increases its international presence.

Escrow Europe provides escrow services, which safeguard software customers against events such as supplier bankruptcy, to 10,000 mainly European clients.

The company is based in the Netherlands, with a subsidiary in Germany and franchised sales operations in Switzerland, Belgium, Sweden, South Africa and Israel.

Rob Cotton, NCC Group's chief executive, said the acquisition would increase the number of businesses and applications protected by NCC's services.

NCC is to make an initial payment of £5.5m to be followed by a performance related payment of up to £2.3m to be made in two parts at the end of March and June 2008.

NCC expects the company to contribute over £745,000 of profits in the first year of NCC ownership. It will trade as Escrow Europe, an NCC Group company.

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