"The acquisition of the library unit will add valuable new expertise and capabilities to Capita's existing products for the academic and public sectors", says Paul Pindar, CEO Capita Group
Fredericksburg, VA (PRWEB) March 6, 2011
Talis Group Ltd's library business unit, Talis Information Ltd, a provider of management software and managed services for the UK academic and public library sector, has been acquired by the UK's leading outsourcing firm. Capita Group is paying $30m (£18.5m) upfront for Talis Group Ltd, with an additional $4m (£2.5m) due, based on Talis’s performance in the year ending 31 March 2012.
Talis has a range of around 100 academic and public library clients based in the UK. In the year to 31 March it made an operating profit, on a pro-forma basis, of$5.7m (£3.5m) on turnover of $11m (£7m). Talis Information Systems Ltd employs 42 staff, all of whom are based in Birmingham UK.
Talis Group's other portfolio companies including Talis Education Ltd, Talis Systems Ltd and Talis Inc remain unaffected by the acquisition of Talis Information Ltd. Talis Group's non-library divisions provide a SaaS-based development platform for Web-based data management and resource list management solutions for higher education.