Press Releases in 2005
TCO – Management software, sold to CACI International Inc.
ICON has advised the shareholders of Tech Computer Office (TCO) on the sale of the company
ICON has advised the shareholders of Tech Computer Office (TCO) on the sale of the company to the UK subsidiary of US technology group CACI International Inc for an undisclosed cash consideration.
TCO, which is based in London and has over 40 staff, is a leading developer of operational management software primarily for the Care sector including many UK local authorities and Care providers. TCO also provides its software to several high profile construction related companies including Amec, White Young Green and Lord Foster and Partners.
TCO was previously owned by the management team, including Founding Chairman Stuart Beatty and Managing Director Kevin Sparks, the latter of whom will remain with TCO after completion.
CACI Inc. is a publicly listed company on the NYSE with a market capitalisation of US $1.8bn and employs over 9,000 people worldwide.
Commenting on the deal, Brian Parker Head of M&A at ICON said "We had strong interest from a number of buyers but the cash terms offered by CACI and its significant resource provided an ideal opportunity to accelerate TCO's future growth and provide an attractive exit for shareholders".
