Advanced CEO Gordon Wilson: 'This sector is an increasingly enthusiastic adopter of sophisticated technology'
Deal provides Advanced with greater UK and Am Law penetration and promise of taking Tikit to 'new level'
UK software and business services company Advanced has acquired legal tech leader Tikit from BT Group to take advantage of the legal sector's growing thirst for sophisticated technology.
The move provides Advanced – the UK’s third-largest software and services company – with a much greater presence in the legal services market, a strategic priority for the private equity backed company.
Acquired by BT Group for £64.2m in 2012, Tikit boasts as clients 90 of the UK’s top 100 law firms, 60 AmLaw firms, 12 top 20 European firms and 14 of the top 35 Australia and New Zealand practices.
A flagship product is its Partner for Windows (Tikit P4W) practice and case management system, which is used by more than 600 UK law firms. It also offers time and billing, document lifecycle and marketing and business development products.
Advanced, which has its own law firm practice and case management product, said Tikit’s large law firm client base complemented its presence in the small to medium-sized firm market, while the deal also expanded its global footprint.
The deal marks Advanced’s first sizeable acquisition since August 2019, when the company received an investment from funds advised by BC Partners, with Vista Equity Partners continuing as an investor.
Gordon Wilson, CEO of Advanced, said: “The professional services sector, in particular the legal market, is a strategic growth priority for us. “This sector is an increasingly enthusiastic adopter of sophisticated technology and we have worked hard to innovate and develop valuable solutions that they require.
“This acquisition will enhance our ability to provide innovative and specialist software solutions to meet clients’ needs – now and into the future. Tikit has a strong and growing customer base and is highly complementary to us, so we are thrilled to add its technology and people to the growing Advanced family.”
Simon Hill, CEO of Tikit, said the deal would take Tikit to “a new level of growth”. He added: “The breadth of products and expertise that Advanced brings will provide a great opportunity for Tikit customers to gain access to a wider range of specialist technology, helping them to unlock their business potential.”
The sale by BT Group is in line with a strategy by the telecoms giant to focus on its core business.
Email your news and story ideas to: email@example.com