Insights & News

Leading customer experience management platform provider Abacus Software Ltd has sold its applicant tracking software division to software specialist Giant Precision Limited | UK

NEWS: View all News articles.

Leading customer experience management platform provider Abacus Software Ltd, which trades as Abacus e-Media, has sold its applicant tracking software division to software specialist Giant Precision Limited, in a deal advised by BCMS.

Abacus’s recruitment platform addresses the needs of public sector organisations to recruit, manage and retain the best talent.

Abacus e-MediaFounded in 1992 and also headquartered in London, Giant Precision is a market-leading software company delivering back office screening, HR contract processing, onboarding, timesheet, billing and payroll services to the recruitment sector with software in use in the UK and Europe, North America, and Canada.

Matthew Brown, Managing Director at Giant Precision, said “The acquisition of Abacus Recruit reinforces Giant’s strategy of investment and expansion of its provision of hosted software within the recruitment arena allowing Giant to invest in the development of Abacus Recruit into a market leading part of its product portfolio. Abacus Recruit will be rebranded as Giant Recruit as a first step towards driving the product forward in this exciting time for the clients and the product development team.”

BCMS Abacus Recruitment acquisitionFinance Director of Abacus e-Media Alexandra Lord added: “Abacus’s Recruit SaaS platform has been a key partner for public sector recruiters as evidenced by its longstanding client base and innovative functionality. In order to realise its longer-term potential, the platform better fits within a broader specialist HR service offering, allowing Abacus to focus on its core service offering of SaaS customer experience management.”

BCMS advised Abacus e-Media, with legal support from Lewis Silkin LLP. Terms and value of the deal have not been disclosed.

BCMS Lead Advisor Luke Rebbettes commented: “Abacus e-Media has longstanding relationships with major public sector HR and digital teams, and in Giant Precision, we found a buyer well-placed to bring in additional resources and expertise to help this highly talented team take the business to the next level. I wish both the Abacus team and Giant Precision all the best for the future.”

 

See more telecoms, media and technology M&A deal completions here

 
BCMS Author's picture
Posted Jul 2017
by
Share
All BCMS Insights