Misys pays heavily for tonic

Article Abstract:

Misys is offering a high price of Medic Computer Systems, some 585 million pounds sterling, with 321 million pounds of this to be funded by a rights issue. Misys has previously paid sums considered high for acquisitions which have later proved their worth. Medic supplies software to physicians to help them deal with insurers. Medic is undergoing rapid growth and much of its income is recurring, which helps provide stability of earnings, though the company's stock price has been volatile.

Health Practitioner Software Pkgs (Micro, Medical practice software, Misys PLC, Medic Computer Systems Inc., MCSY

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MISYS closes the final act

Article Abstract:

Misys has made a bid for ACT, a computer software firm from Birmingham, England. The offer puts a value on ACT shares of 1.20 pounds sterling. Misys is seeking to boost its position in the market for software for insurers, banks and financial services concerns. There will be no director from ACT moving to the Misys board. Misys will have 40% of revenue originating from outside the UK, following the acquisition, but the company has yet to achieve a significant stake in the US market.

MISys Inc., ACT Group PLC

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Micro Focus gets tooled up in the US

Article Abstract:

Micro Focus will buy Intersolv, a specialist software development company. Both companies produce tools for information technology specialists. Micro Focus' profit is forecast at 29 million pound sterling for 1999, compared with a loss of 6 million pounds sterling for 1998. Intersolv reported a pre-tax loss of $18 million for 1996 to 1997. Micro Focus has a US listing and is California-based, while Intersolv has its base in Maryland.

Micro Focus Group PLC, MIFGU, INTERSOLV Inc., ISLI

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