21st September 2011
As one of the best known Recruitment Software brands, Voyager Software (www.voyage.co.uk) has always proven to be an innovative and successful solutions provider. With a comprehensive product range, a loyal customer base and solid growth, it’s easy to see how it caught the eye of Dillistone Group plc (www.dillistonegroup.com), the publicly traded parent of executive search software providers Dillistone Systems Ltd (www.dillistone.com).
It has been announced today that Dillistone Group Plc has purchased Voyager Software and its parent, Woodcote Software. The deal – worth between £1,890,000 and £4,000,000 dependent on performance – was paid for in cash and shares leaving the Dillistone Group Plc debt free and with an exceptionally strong balance sheet.
Although both Dillistone Systems and Voyager serve the recruitment industry, each is focused on different sectors. As a result, the two businesses will continue to operate as separate firms with separate brands and separate products. With over 1,800 clients in around 60 countries, the enlarged group immediately becomes one of the largest suppliers to the recruitment industry in the World.
Nick Ray, the departing CEO of Voyager parent, Woodcote Software, says, “I am delighted to see Voyager join the Dillistone Group. I believe the strategic fit is exceptional and this bodes well for the future. We said two years ago that there was a need for consolidation in the recruitment software industry and this acquisition creates a strong and powerful player that customers can depend on and which will transform the industry. With global reach and offerings for every segment of the industry, Dillistone and Voyager will be a force to be reckoned with.”
Simon Warburton, Managing Director of Voyager Software comments, "We are delighted to reveal this acquisition and embrace all it offers. Voyager’s incumbent management team successfully steered the company through one of the toughest recessions in living memory, whilst investing heavily in R+D during that period. Our efforts have seen the business become one of the truly respected software suppliers in the industry. This step forward ensures our solutions have a platform from which they can reach a global market.”
The acquisition is expected to have a positive impact on Voyager’s existing clients as the company becomes part of the strong Dillistone Group Plc with the global opportunities it enables. Likewise for its staff who will welcome the increased investment and who will all benefit from share options in the AIM listed group company. Ultimately, for Voyager Software, its customers and its staff, this acquisition can only be seen as a great step forwards.
Paul Thompson, Voyager’s Sales Director, added, ”Recruitment is fast becoming a global business with global demands and this brings together two extremely complimentary organisations. With the support of Dillistone Systems unparalleled experience in marketing, implementing and supporting systems globally, I’m looking forward to seeing Voyager’s global client base grow significantly over the next few years. After 12 years in the organisation I can say that this remains an extremely exciting place to be – I’m looking forward to the next chapter.”
Jason Starr, Managing Director of Dillistone Group Plc explained the rationale behind the acquisition: “Voyager and Voyager (Australia) are long standing and well regarded suppliers to the UK and Australian recruitment markets respectively. The two companies have a significant client base and a high proportion of recurring revenues with strong management teams and hard working and professional staff. I believe that this acquisition will prove to be beneficial to Voyager’s clients and staff, and that it will have a transformational impact on Dillistone Group Plc. Historically, we have operated globally in what is very much a niche market – Executive Search. This Acquisition takes us into a substantially larger market.”
About Voyager Software Limited
Voyager Software Limited is a Dillistone Group Plc company and a leading provider of advanced, fully integrated, end-to-end recruitment solutions including Voyager Professional, Voyager Commercial, Voyager VDQ! and Voyager Mid-Office. Intuitive, innovative and functionally rich, our products have been designed by recruiters to enable customers to spend time growing their client and candidate relationships rather than painstakingly logging their activities. With headquarters in the UK, and offices in Australia, our products are used in over 20 different countries by many thousands of users in different-sized recruitment businesses.
About Dillistone Group Plc
Dillistone Group Plc (www.dillistonegroup.com) is a global provider of software and services to recruitment firms and recruiting teams within major corporations. Across its subsidiaries, it works with around 1,800 firms in approximately 60 countries..