Cheltenham Var Maxima has acquired Coventry reseller Simdell for #2.2 million in cash and shares, with a potential earn out of an extra #1.4 million based on profit performance.
Simdell, a specialist in housing management and workflow solutions, turned in a pre-tax profit of #404,000 on turnover of #5.4 million last year. The reseller, which employs 81 staff, will retain its identity and operate within Maxima?s health and social care division. There will be no job losses.
The addition of the company is expected to boost Maxima?s turnover to #20 million a year.
Maxima comprises two divisions: distribution and manufacturing software specialist Minerva and Systems Team, which focuses on health and social service companies.
A Maxima representative said the company was looking forward to future acquisitions.
John Caines, Maxima?s chairman, said Simdell will complement ?our product set for our health and social care division, and will meet previously unfulfilled demand for a document management solution across all our divisions?.
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