(Bond International Software plc., United Kingdom.) Bond International Software, the world's leading supplier of specialist recruitment software solutions, announced today that the Company had acquired Gowi Group Plc for £8.9m. Gowi is a privately owned organisation which was established in 2001. It employs over 140 people in five locations around the UK, with a customer base of more than 850 companies and an estimated turnover of more than £8.5m. This is Bond's largest acquisition to date and the existing management will stay on to run the business.
The purchase of Gowi fits perfectly with Bond's stated strategy of acquiring businesses in similar and related industries. It is a growing force in its market and through a number of targeted acquisitions it delivers a focused and dedicated range of solutions that are market leaders in Human Resources, Payroll and Recruitment applications - particularly in the public sector, education and publishing.
" We have previously said that our strategy is to increase our presence in the wider Human Capital Management arena by a combination of software development and acquisition" explains Steve Russell, CEO of Bond International Software. "Gowi has significant presence in the HR software market and our combined product ranges will significantly improve the scope and capabilities of the portfolio that we can offer to our customers around the world. In particular, with the Gowi payroll products, Bond will now be able to offer a totally integrated front to back office solution."
Mike Smart, Group CEO at Gowi, adds: "The merger with Bond will enable Gowi to accelerate our growth plans. Through their international network, we can access customers on a global scale and take advantage of shared skills in product development, process mapping and customer support."
Steve Russell continues: "We will combine the Recruitment, HR and Payroll systems into integrated solutions that deliver tangible efficiency improvements and bottom-line benefits. When these are joined with Bond's advanced developments in multi-lingual and multi-character set technologies, customers can confidently embrace the challenges of the global marketplace - whatever the size of their organisation and wherever they might be located".
"Together Bond and Gowi will combine people, skills, solutions and infrastructure to deliver excellence at every level."
About Bond International Software Group
A publicly held company quoted on the London Stock Exchange under BDI, Bond International Software Group (www.bondadapt.com) is a pioneer in the development and provision of staffing software, support and consultancy services to the staffing and recruiting industries. It supports more than 70,000 staffing professionals in 42 countries worldwide and has over 200 employees worldwide in its offices in the U.K., Australia, Hong Kong, South Africa, the U.S. and Canada. Since its founding in 1973, Bond has consistently combined innovation, dedication and market focus to forge ahead of its competitors. Its products and services have achieved prestigious acclaim and are now the market choice of many of the world’s largest and most well-respected personnel organizations. Its consistent, visionary perspective has enabled its network of global users to interpret and manage dynamic, complex markets and realize tangible competitive advantage in the race for human capital.
Information Regarding Forward Looking Statements:
This press release contains forward-looking statements. The statements regarding Bond International Software Group contained in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations and assumptions, and entail various risks and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. Important factors known to Bond International Software Group that could cause such material differences are identified and discussed from time to time in Bond International Software Group’s filings with the London Stock Exchange.
Bond International Software Group undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any future disclosure Bond International Software Group makes on related subjects in future reports to the London Stock Exchange.
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