Legal software specialist snapped up by market leader

Release date: 26/8/2009

IT firm Formation Software was snapped up by market leading specialist IRIS Software Group, for an undisclosed sum.

Formation Software, based in West Walk, Leicester, specialises in creating bespoke, niche computer packages for lawyers and barristers. It proved a very attractive opportunity for IRIS, currently the UK's largest privately-owned and fastest growing computer firm, which moved quickly to complete the deal.

Negotiations were overseen by Roy Botterill, partner and head of Harvey Ingram's Corporate team, along with the Leicester-based team at financial adviser Vantis. As a result, all existing Formation Software staff will now be retained by IRIS.

Formation Software founder David Randall says: "We are delighted with the speed with which this deal was completed. Joining forces with IRIS offers a superb opportunity to our customers given the investment and resources the company has available. I'm looking forward to watching it go from strength-to-strength."

Nick Ozga, of IRIS Software, says: "We were able to complete the deal very quickly and efficiently thanks in part to the professionalism of the team at Harvey Ingram, as representatives of Formation Software. IRIS plans to continue development of Formation's products and support the company's prestigious client base along side its own. The skills mix within the ex-Formation staff will be complementary to that of IRIS, which believes the purchase will reinforce IRIS' position as leader in the legal software market."

Roy Botterill says: "We are delighted to be able to help Formation Software complete this deal. Negotiations were concluded very quickly and smoothly. It's a sector we specialise in and an area that has continued to expand – regardless of the economic climate."