Absoft moves into acquisition

OIL and gas software firm Absoft yesterday made its first acquisition, with the Aberdeen firm swooping on Warrington-based Hexarus Consulting.

Absoft, which sells software made by German firm SAP and then helps clients to adapt the programs for their businesses, paid a “seven-figure sum”.

Managing director Ian Mechie, who founded Absoft in 1991, said: “Making this acquisition is a significant element of our expansion plan and will make a major contribution to our ambitious growth targets across the business.

“This year’s turnover is set to exceed £8 million and next year the combined turnover is likely to be more than £14m.”

He said Hexarus, which turned over about £2.2m last year, would continue to trade under its own brand.