Servelec announces acquisition of Corelogic for £23.5 millionPrint news article
Walker Morris acted for Servelec Group PLC in its acquisition of Corelogic Limited for a total consideration of £23.5 million which was announced on the London Stock Exchange on 15 December 2014
Corelogic is a high-growth, UK market-leading provider of next generation adult and children’s social care case management software, together with associated financial management modules.
Servelec will acquire the entire issued share capital of Corelogic and said the deal will move it closer to a fully integrated health and social care system as it positions itself for the government’s Converged Care for patients’ agenda.
The Walker Morris team comprised Thomas Mieszkowski (corporate) and Jeremy Moore (real estate).
Alan Stubbs, chief executive of Servelec Group, said:
“This acquisition provides us with opportunities to add good incremental value to the overall business and positions Servelec well to meet the government’s objective for ‘Converged Care’ by packaging Mosaic and Corius alongside Servelec’s existing product portfolio.
“This purchase fits perfectly with our strategy of acquiring IP, market share and expanding into adjacent business sectors.”
Corelogic, which has 75,000 end users and 58 customers worldwide, is primarily based in London with offices in Edinburgh.
Walker Morris previously advised Servelec on its flotation on the Main Market in London last year for which Servelec was awarded the Public Market Deal of the Year at the Insider Dealmakers Awards last month.