Capita acquires Ramesys

Monday 29 March 2010

Capita acquires Ramesys

The Capita Group Plc today announces that it has acquired Ramesys (Holdings) Ltd.

The Capita Group Plc (“Capita”) today announces that it has acquired Ramesys (Holdings) Ltd (“Ramesys”) from Lloyds Bank for a cash consideration of £15 million on a cash free, debt free basis.
   
Ramesys is a provider of integrated ICT solutions to the education and commercial sector. It specialises in the design, delivery and management of technology for schools through the Building Schools for Future (“BSF”) initiative. It also provides ICT services to corporate clients and non-BSF education programmes and acts as a reseller of education software.

The company acts as lead ICT provider on seven BSF contracts: Nottingham, Manchester, Waltham Forest, Westminster, Tower Hamlets, Greenwich and Tameside.  In addition, Ramesys is a sub-contracted ICT provider on three further BSF contracts: Liverpool, Rochdale and Derbyshire.

Ramesys was established in 1980 and in 1999 was sold by Misys plc to a management buy out.  In 2009, it made a pro forma operating loss of £2.9 million on turnover of £34 million.

Commenting on the investment, Paul Pindar, chief executive officer of the Capita Group said: “Both Ramesys’ existing client base and the nature of its business provides powerful synergies with our existing ICT and software services businesses. 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.”

Mark Chambers, chief executive officer of Ramesys, said: “The backing, both business and financial, of a company the size of Capita, will enhance significantly our ability to exploit 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.”

Ramesys head office is in Nottingham. It has approximately 300 employees. 

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