Business
Acquisition of MPP Global Solutions Limited
Acquisition of MPP Global Solutions Limited.
About this update from Aptitude Software Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5747O\n Aptitude Software Group PLC\n 11 October 2021\n \n \n \n \n 11 October 2021\n \n \n \n \n \n Aptitude Software Group plc\n \n \n (\"Aptitude Software\" or the \"Group\")\n \n \n Acquisition of MPP Global Solutions Limited\n \n \n Highly complementary product offering and global customer base\n \n \n Aptitude Software, the specialist provider of finance transformation and automation software, is pleased to announce the acquisition of MPP Global Solutions Limited (\"MPP Global\"), an international provider of \n cloud-based\n \n subscription management and billing technology (\"eSuite\") for a total enterprise value of £37.1 million (the \"Acquisition\").\n \n \n Acquisition highlights\n \n \n · \n MPP Global provides a modular, cloud-based, end-to-end SaaS solution to large, international, enterprise customers across the media and publishing sector and a growing number of other verticals\n \n \n · \n MPP Global's Annual Recurring Revenue ('ARR') at 30 June 2021 is £8.0 million across approximately 40 clients\n \n \n · \n MPP Global's eSuite platform is focused on the subscription economy and provides identity management, CRM, automated billing, payment processing, and churn management capabilities\n \n \n · \n Strong strategic acquisition rationale, in-line with Aptitude Software's stated strategy, with the Acquisition accelerating the Group's product roadmap and competitive positioning in end-to-end revenue automation\n \n \n · \n MPP Global has a high proportion of recurring revenue, increasing Aptitude Software's overall recurring revenue proportion to 62% on a pro forma basis1\n \n \n · \n Highly complementary product offering and global client base presenting a number of cross sell opportunities in both businesses, including adding strength in new sectors\n \n \n · \n MPP Global brings c. 100 new employees to the Group, most based in northern England. The business's North West England headquarters is set to become a second long-term innovation centre for the Group, with c. 60 team members in the MPP Global Software and Technology teams\n \n \n · \n MPP Global's founding directors will support the initial integration into the Group\n \n \n Information on MPP Global\n \n \n MPP Global's eSuite platform, focused on the subscription economy, offers a \n modular, cloud-base...