HCSS Education, who provide cloud-based budget and financial planning solutions to schools and academies, has been acquired by Access Group, creating the leading provider of financial, budgetary and planning solutions to the UK education sector.
HCSS Education’s multi-tenanted SaaS financial planning solution is already being used by 6,000 schools and academies in the UK, and the acquisition allows Access to grow its footprint in the sector and the opportunity to cross-sell its HR & payroll solutions. Additionally, HCSS will be launching a SaaS finance solution in 2016 built specifically for schools and academies, which will offer further opportunity for growth.
The deal is the first since Access Group announced its FY15 financial results last month and follows its acquisition strategy of adding complementary solutions to its existing product portfolio and increases the growing SaaS footprint within the product range.
Commenting on the acqusition Chris Bayne, CEO for Access, said. “HCSS has a proven track record in the education sector and boasts an impressive 25% market share. With the upcoming launch of their new SaaS finance solution, which has undergone a lengthy research and development process involving schools and academies, we can share our expertise to offer the sector a solution that will mean they are fully informed about the financial position of the school or academy.”