Bond International Software plc., the worldwide recruitment, HR and payroll software solutions provider, announced today that it has acquired Strictly Education Limited ñ a specialist service provider to the education sector ñ for a consideration of 2.68million.
Strictly Education is a wholly owned subsidiary of Esos Group Limited, a sister company of recruitment business Pertemps Limited. Based in Milton Keynes, Strictly Education employs 35 people and provides its HR, finance, property support and payroll services to over 500 schools across the UK. The unaudited accounts for the year ended 31 December 2006 show revenues of 1.9m, a profit before tax of 0.3m and net assets at 31 December 2006 of 0.2m.
Following the January 2007 acquisition of GOWI Group, Bond now operates from six locations around the UK and has offices in the United States, Australasia, South Africa and Hong Kong with a global team of over 350 employees and turnover in excess of 20 million.
The acquisition of Strictly Education fits in very well with Bondís clearly stated strategy of acquiring businesses in similar and related industries within the field of Human Capital Management . It continues to grow in its market both organically and through a number of targeted acquisitions.
In addition to its market leading recruitment software, Adapt, Bond delivers a focused and dedicated range of solutions that are market leaders within the field of HR and Payroll - with a particular emphasis in the public, education and publishing sectors.
Steve Russell, Chief Executive of Bond , comments, ìWe see the education sector as a tremendous growth opportunity. Strictly Education adds a range of services offerings that are complemented by our existing product line and they have established a solid business in the UK dealing with 500 schools in a market of some 30,000.î
Russell adds, ìThey have a team of highly skilled employees in a vertical market which we see as key to our future activities . More and more schools are taking control of their own administration and outsourcing the fundamentals of HR, finance, property support and payroll.î
ìOur market leading product range fits neatly into what is an established recurring revenue business and there are significant cross selling opportunities between the existing businesses for both products and services,î concludes Russell.
Tracey Bovingdon, Managing Director of Strictly Education, who joins Bond as Divisional Director, adds, By combining our respective skills and products this merger creates a tremendous platform for not only new business but also the ability to provide additional products and services to our loyal customer base.î
Bond combines people, skills, solutions and infrastructure to deliver excellence at every level in Human Capital Management.
Bond acquires Strictly Education Limited
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