Friday, October 23, 2020

Nottingham-based Mitrefinch acquired by software company

Software company Advanced has acquired Mitrefinch, a Nottingham-based provider of workforce management solutions.

It is Advanced’s second acquisition of 2020 following the acquisition of Tikit a global legal, accounting and professional services software business in March and the third since it received an investment from funds advised by BC Partners and Vista Equity Partners to accelerate growth in August 2019.

The deal marks an exit for mid-market private equity investor LDC, which first backed Mitrefinch in 2016.

This latest deal boosts Advanced’s market share in HCM, and further strengthens its offering with Cloud HR at its core, by offering a complete digital HR lifecycle from recruitment to retirement and full management of the employee journey, whilst further supporting the company’s ambition to become the number one provider of business software solutions in the UK and broadening its global reach.

Established in 1979, Mitrefinch helps some 4,400 customers in over 80 countries.

Gordon Wilson, CEO of Advanced, says: “The innovative workforce management solutions developed by Mitrefinch are an exceptional fit with our existing best of breed Cloud HR solution.

“We’ve seen the impact of Covid-19 change the future of workforce management and shifting workforce expectations, leaving companies facing uncertainties with regards to resourcing and staffing.

“Digital technology provides accuracy of data to enable rapid decision-making in shifting market conditions which is a vital tool for companies managing shift patterns and measuring critical output.”

Matt Jenkins, CEO of Mitrefinch adds: “Mitrefinch has a strong reputation for developing transformative products that help companies solve the complexities of managing time.

“Our solutions will integrate with Advanced’s Financial Management Systems (FMS) as well as their full suite of HCM solutions, enabling businesses to accelerate technology adoption.

“Covid-19 has accelerated digital disruption in the HCM sector and we’re excited to be part of Advanced’s journey in disrupting the market further.”

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