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Calyx Software seals two reseller acquisitions for £6m
VC Jon Moulton splashes the cash
Private equity veteran Jon Moulton's buy-and-build vehicle Better Capital has forked out £6m for Cheshire-based developer Trinity Computer Services and the software reselling arm of Touchstone Group to bolt onto Calyx Software.
These represent the first two acquisitions that Moulton has made since he rescued Calyx from administration in September last year and restructured the group into two operating divisions: software and managed services.
The software division of London-based Touchbase turned over £3.2m in the fiscal year ended 31 March 2010.
The firm delisted from AIM in the summer of 2009, citing the "considerable burden" in costs and regulatory requirements of maintaining its foothold on the stock market and has been the subject of take-over rumours for some years.
Trinity, which develops wholesale and distribution application software for mid-market firms – using Microsoft Dynamics GP as the central finance system – had sales of £3.2m in the year to 31 March 2011.
In a statement to the London Stock Exchange, Calyx Software claimed the deal made it a big hitter in Microsoft Dynamics reselling "with more than 500 customers". ®