Member Article

Cheltenham software firm make multinational purchase

Cheltenham’s Vero Software have acquired global software group Sescoi, who boast a turnover in excess of £60m.

Sescoi has operations in France, Germany, Japan, Spain, China, Brazil and the USA, and this purchase was funded by HSBC and Silicon Valley Bank.

Vero CEO Richard Smith said: “Sescoi is an excellent strategic fit and strengthens our existing product and service offering, and international presence. PKF’s advice and support throughout the process was invaluable.

“Their international deal experience provided great assurance during the process and they used prior knowledge of our operations to identify areas of key commercial importance, which will assist with the integration of Sescoi.”

PKF Partner Mark Lister added: “This deal reinforces the fact that companies with good management, a clear vision and a strong business case can secure funding despite the challenging market conditions, and highlights the continuing influence of international businesses on UK M&A activity.

“This is the second time that we have worked with Vero on a major acquisition, which is a testament to the strength of our corporate finance team in Leeds and the close relationships that we have developed with Vero’s directors.”

This was posted in Bdaily's Members' News section by Tom Keighley .