Member Article

Sheffield’s Servelec announces £23.5 million acquisition of London software firm

Sheffield technology firm Servelec has acquired London firm Corelogic is a provider of adult and children’s social care case management software for £23.5 million.

Corelogic is currently owned by founders Kevin Moorhouse (65%), Iain Clark (29%) and a number of additional individual shareholders.

In total, Corelogic has 75,000 end users and its products are used by 58 customers worldwide. The company already has over 20% UK market share in social care and is used by over 50% of Local Authorities in London.

Alan Stubbs, CEO of Servelec Group said: “I am delighted to welcome Corelogic to the Servelec Group.

“This acquisition provides us with opportunities to add good incremental value to the overall business and positions Servelec well to meet the Government’s objective for ‘Converged Care’ by packaging Mosaic and Corius alongside Servelec’s existing product portfolio.

“This purchase fits perfectly with our strategy of acquiring IP, market share and expanding into adjacent business sectors. We look forward to working with the management team to capitalise on the exciting growth opportunities ahead.”

This was posted in Bdaily's Members' News section by Clare Burnett .