Sheffield software developer acquired for undisclosed sum
A national accountancy software firm has acquired a Sheffield-based developer that specialises in the education market.
IRIS Software Group acquired education software as a service specialist Results Squared for an undisclosed sum.
Headquartered on Savile Street in Sheffield, Results Squared has developed software for school messaging apps that are used across the UK.
Founded in 2006, the company has developed a suite of market-leading cloud and mobile applications to help parents keep up to date and assist schools in managing their assets.
Matthew Smith, managing director and founder of Results Squared, said: “Our customers have relied on us to save time, money and help improve performance.
“Joining an organisation with a strong focus and investment in the education market will enable us to bring our technology to an even wider audience.
“PS Financials has a strong reputation for excellence in the education market and we’re delighted to join forces to provide a software portfolio with unrivalled breadth and depth to best serve the needs of the education market.”
IRIS Software Group is the UK’s market leader in business critical software across a variety of industries and has offices in Datchet, Berkshire; London; Manchester; Wigan and Stockton-on-Tees.
Kevin Dady, chief executive of IRIS Software Group, said: “I’m delighted to welcome Results Squared to IRIS Software Group to add further value to our PS Financials education market portfolio.
“This is another stepping stone in our strategic plan to grow the business and our mission to deliver outstanding service and innovation for our customers; further enhancing the value we create and providing a flawless service.”
Results Squared was advised by BCMS, with legal advice from Brodies.
BCMS lead adviser Alan Southcombe said: “Matthew has built an amazing business, and as expected, there was a huge amount of interest in this opportunity from the market.
“IRIS had previously acquired two BCMS client companies and both the IRIS and Results Squared teams assisted greatly in bringing the deal to a successful conclusion.
“This market is growing rapidly, and BCMS will watch the progress of Results Squared as part of IRIS Software Group with interest.”