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Silicon Valley Bank is pleased to announce its Joint Lead Arranger role in a new facility to Advanced Computer Software Group PLC.

Company News  | 

Surrey-headquartered software and IT services company, Advanced Computer Software plc (ACS), announced that it has acquired accounting and back office software provider, Computer Software Holdings (CSH), from HgCapital in a £110M deal. The transaction has been financed through ACS's existing cash resources, a recent placing which raised £44M, and new bank debt. This includes a new £105M facility with Silicon Valley Bank, HSBC and RBS. The enlarged group will have 1,900 staff serving 20,000 customers across the UK, US and Ireland.  

"We are delighted to be supporting Advanced Computer Software Group in this important transaction and look forward to working with the management team as they continue to grow the business", commented Paul Jackson, Managing Director of Corporate Banking at Silicon Valley Bank's UK Branch.    

Vin Murria, Chief Executive of ACS, said:"We are pleased to have Silicon Valley Bank join as one of our banking partners and believe their technology sector expertise here in the UK and North America will complement the strong relationships we have with our existing lenders."  

About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. Silicon Valley Bank and its affiliates within SVB Financial Group provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 27 US offices and seven international operations in China, India, Israel and the UK.  (Nasdaq: SIVB) www.svb.com/uk

Silicon Valley Bank is registered in England and Wales at 41 Lothbury, London, EC2R 7HF, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the Financial Services Authority, FSA reference number 577295. Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.  

About Advanced Computer Software plc             
Advanced Computer Software Group plc (Advanced) is the leading supplier of software and IT services to the health, care and commercial sectors with a primary focus on delivering high quality products and services to enable first class delivery of care in the community. Advanced's portfolio for the health and care sector includes IT management and analytics systems for out-of-hospital applications covering urgent and unplanned care, district nursing, hospices, residential care homes, telehealth, end-of-life and long-term-condition management; as well as mobile information systems for community carers.              

Advanced additionally delivers back-office systems for NHS trusts, local authorities and care providers and is further strengthening its position in the health checks and pharmacy services markets. Working with partners in the NHS, local government and the private sector, Advanced delivers IT in support of safe and efficient care delivery and greater information for both the commissioner and care provider. The company's unique proposition is the breadth of integrated health and care solutions from patient-facing IT systems through to back-end operational systems and services.  

Advanced is also a leading supplier of software and IT services to the commercial sector, which represents 35% of the company's revenues. As the commercial sector typically delivers faster lead times than the health and care sector, this part of the business underpins growth whilst providing opportunities for cross-marketing of products and IT services. www.advancedcomputersoftware.com
 
Contacts:
Elly Gilbert 
Silicon Valley Bank - UK Branch
+44 (0)20 7637 7813
mailto: egilbert@svb.com
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