MCI, the exclusive distributor for Bond International Software in South Africa and the largest distributor of staffing software in South Africa, today announced that the latter has acquired Strictly Education Limited - a specialist service provider to the education sector - for a consideration of £2.68 million.
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 revenue of £1.9 million, a profit before tax of £0.3 million and net assets at 31 December 2006 of £0.2 million.
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 Bond's 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: "We 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."
Russell adds: "They 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.
"Our 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," 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."
Bond combines people, skills, solutions and infrastructure to deliver excellence at every level in human capital management.
For further information, please contact Aliki Droussiotis, MCI: telephone (011) 454 3420, fax (011) 454 3417, e-mail aliki@mci.co.za.
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Bond International Software Group, based in the UK and listed on the LSE's Alternative Investment Market (AIM), is a pioneer in the development and provision of staffing software, support and consultancy services to the staffing and recruiting industries. Since its foundation nearly 30 years ago, Bond has consistently combined innovation, dedication and market focus to forge ahead of its competitors. Its products and services have achieved prestigious acclaim and are now the market choice of many of the largest and most well respected personnel organisations throughout the world. The group's consistent, visionary perspective has enabled its network of global users to interpret and manage dynamic, complex markets and realise tangible competitive advantage in the race for human capital.
MCI Consultants
MCI Consultants is a South African-based business information systems consulting firm specialising in providing software solutions to the business community, specifically to the financial services and personnel recruitment industries.
It offers a complete solution, which can include project management, consulting services, installation, training and support, packaged software implementations, product development including e-commerce solutions, hardware supply, installation and design services.
The company's approach is to continuously provide solutions to meet clients' changing requirements. It takes pride in delivering excellent customer service and building lasting partnerships with clients.
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