Advanced buys legal software firm from BT
British software and services firm Advanced has announced the acquisition of legal, accounting and professional services software business Tikit from BT.
The acquisition is fifth in twelve months for Advanced, the third largest British software and services company in the UK boasting customers including the NHS and BBC.
Acquired firm Tikit provides solutions for professional services firms via its own proprietary software and applications from long-standing partners. It was first reported that BT was looking to sell the firm in August last year.
The purchase is hoped to broaden the market opportunity for Advanced solutions to include the top 100 to 200 UK law firms, being complementary to Advanced's existing presence within small to medium sized firms.
It also expands Advanced's operations in North America, Australia and EMEA.
"The professional services sector, in particular the legal market, is a strategic growth priority for us," said Gordon Wilson, CEO of Advanced.
"This acquisition will enhance our ability to provide innovative and specialist software solutions to meet clients' needs - now and into the future. Tikit has a strong and growing customer base and is highly complementary to us, so we are thrilled to add its technology and people to the growing Advanced family."
The divestment of Tikit aligns with BT's strategy of focusing on converged connectivity and services, with further investments in both its fixed and mobile networks such as full fibre and 5G.
Gerry McQuade, CEO of BT's Enterprise unit, said: "With BT's renewed focus on investing in our core business, the time is right for a new owner to maximise Tikit's full potential. Our colleagues at Tikit have been a valued part of BT for the past seven years and I wish them every success for the future within Advanced.”
Simon Hill, CEO of Tikit, added: "We are excited to see Tikit enter a new phase as part of the Advanced family. As part of Advanced, Tikit will have access to software and development expertise together with extensive industry knowledge, taking the business to a new level of growth.”