Isca Ventures is pleased to announce that it has initiated the acquisition of Retain International Limited for its client Capita plc. Initial consideration was £19m, with a further contingent consideration of up to £3.6m over the next two years.
Retain International provides specialist resource planning software which is currently available in 65 countries. It has a strong customer base in the professional services market including accounting, banking and consulting sectors. Key clients include the big four accounting firms.
Sean Massey, Managing Director, Justice & Secure Services at Capita plc, said: “This acquisition further enhances Capita’s capability to support organisations in operating efficiently and effectively and will allow us to provide a scalable and resilient solution to our core markets. I am delighted to welcome the team to Capita and I look forward to supporting and developing this outstanding business.”
Mark Champion, Partner at Isca Ventures, commented “Retain is a high quality business with strong management, proprietary technology and opportunities for growth. We were pleased to put this transaction together and feel confident Retain will deliver its full potential within the wider Capita group.”