Cobalt has advised the Talis Group on the sale of its Talis Information Limited division, the leading UK provider of Library Management Software to The Capita Group plc, the leading outsourcing and software business. The transaction was fittingly closed on Thursday 3 March – World Book Day 2011 – for a consideration of £18.5m plus up to a further £2.5m depending on the company's performance to 31 March 2012.
Talis Information is the UK market leader in provision of library management software and services, with around 100 academic and public library clients. While much of the £7m revenue is already mainly recurring, the business is also increasingly moving to a SaaS delivery model. This transaction enables Capita to offer a wider set of services to the further and higher education markets and to local authorities where it already has a strong client base.
Cobalt worked with the Talis Group over a short period of less than five months to evaluate the TIL business, approach and negotiate with potential buyers from four different countries, and manage the transaction through to final completion.
