Access Intelligence buys ArgentVive’s Solcara operation
05 November 2008
Compliance software specialist Access Intelligence has agreed a deal to buy Solcara Ltd from fellow AIM company ArgentVive in a deal worth £750,000. The move will be a welcome boost to Access’s own product offering and its efforts to focus on a software as a service (SaaS) approach.
Solcara is a major UK search and information management company with technologies which address the need to search, identify and analyse ever expanding volumes of information. Its product offerings target legal and professional firms, information access, media relations and crisis management.
Michael Jackson, Access Intelligence's executive chairman, said Solcara fited in well with the company’s existing businesses and that it could see a number of cross-selling opportunities with other group companies.”
Last year Solcara posted an unaudited turnover of around £1.6 million and pre-tax profits of £135,000. ArgentVive’s managing director Ray Jackson has joined Access as a new non-executive director.
The deal will cause some head-scratching at ArgentVive after the company said in September it was planning to re-focus its entire operation around the Solcara business.
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