Walker Morris has advised PROACTIS Holdings PLC, the specialist Spend Control software provider, on its acquisition of the entire issued share capital of Due North Ltd from its parent company, Access Intelligence plc, for a gross cash consideration of £4.5m.
The acquisition of Due North is in line with PROACTIS’ strategy of augmenting its organic growth with selective acquisitions and will enhance the Group’s position as a leading provider in the market.
Due North is a well-respected provider of eProcurement systems, with more than 300 clients principally in the UK Public sector. Due North’s expertise in the UK Public sector is complementary to PROACTIS’ business and the combination offers the opportunity for Due North’s clients to access the broader solutions offered by PROACTIS, as well as substantial operational synergies in the short and medium term.
Richard Naish and Edward Ainscoe from Walker Morris’s corporate group advised.
