Prism Sell Division of STL Technologies
Prism Corporate Broking, based just outside Newmarket, has facilitated the sale of a division of software developer and provider specialists STL Technologies.
STL Technologies design, create and implement software applications including national Case Management Applications for the criminal justice field. However part of their business-to-business services included a telecoms division, providing telephone system maintenance supporting many clients throughout the country. Following a strategic review they decided to focus on developing further software applications and therefore sell the telecoms side of their business. They approached Prism Corporate Broking to seek potential acquirers and manage the entire sale through to completion.
Prism researched and contacted many potential buyers and identified office technology company, Admiral Business Systems in Luton, as a perfect contender. Within 3 months the sale was complete. Peter Watson, managing director of Prism Corporate Broking comments, “There was a clear logic to disposing of the telecoms division which was largely self-contained. STL was keen to ensure continuity for both staff and customers alike and Admiral was able to provide this assurance. The business will integrate seamlessly into their portfolio allowing them to grow and expand their existing telecoms arm. STL can now fully focus on their software development business, including utilising emerging technologies to enhance their core criminal justice products.”
Managing director of STL, James Garnham comments, “Prism worked hard to find and secure a successful outcome, I am extremely pleased with the efforts they went to; their service was swift, highly professional and achieved the end result we were hoping for.”
Paul Allen, Director at Admiral Business Systems adds, “This is an extremely exciting time for Admiral Business Systems. We will ensure the STL customer base continues to receive exceptional service whilst having the opportunity to development a more comprehensive range of solutions to meet all customers’ telecoms needs.”