Irish software firm AMT-SYBEX sold to Capita for over €100m
Published 16/04/2014 | 07:47
IRISH software firm AMT-SYBEX is being scooped up by services giant Capita in a deal worth over €100m.
The support services firm said it is paying €100m in cash and a further €27m based on certain targets being hit by AMT.
AMT is a proprietary software business firm which focuses on mobile technology and smart data management for the utilities and transport sector.
The company was co-founded by Pearse Mee back in 1990.
It is forecasting an operating profit of €15.5m on turnover of €54m in its current financial year to January 2015.
According to the company, it manages the data of 35 million consumers and enabling mobile working for over 35,000 employees.
In addition, AMT’s latest developed applications will enable data capture from smart meters as they are rolled out in the UK and throughout Europe.
Andy Parker, Capita chief executive said: “AMT is an innovative, high performing, quality business working with a range of industries and sectors undergoing huge competitive and structural pressures, including the deregulation of energy markets, the roll-out of smart metering and more demanding and connected customers."
"Its products and services allow clients to effectively manage data from a variety of sources, mitigate against risk and ultimately contribute towards better customer service," he added.