Dillstone announced the completion of its acquisition of FCP Internet Holdings Limited last July 8, 2013. Dillstone was a supplier of software to firms in the recruitment industry.
The recent acquisition was in line with Dillistone's strategy. This strategy involved the enhancement of scale and achievement of scale by being functioning as a consolidator in a largely fragmented market.
FCP Internet Holdings Limited wholly owned FCP Internet Limited, which sold its Evolve software product to recruitment agencies. The software was designed as a temporary or permanent vacancy filling solution. The Evolve software was wholly delivered by its Software as a Service model and has hundreds of users around the globe. FCP's Evolve software and Dillstone's Voyager software operated in the same market sector.
Regarding the acquisition, Chief Executive of Holdings Nick John said, "We are very pleased to have completed this deal with Dillistone. Although we have had a number of more lucrative offers from potential buyers, we were always very clear that we would only sell to an acquirer that would offer an acceptable level of service to our clients. Dillistone Group has a commitment to customer service which mirrors our own, and the financial and technical strength to ensure that this will be a good move for all those recruiting firms who depend on Evolve, day in day out."
Join the Conversation