Investee Company & Country – fsdc (UK)
Investee Company Business Type – Internet portal provider
Type of Financing – Expansion
Equity Providers – MTI Partners
Equity Leader (Individual) – Richard Ford of MTI Partners
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – £3 million
Total Deal Value – £3 million
Other Advisors – N/A
Comments – UK early-stage hi-tech venture capital investor MTI Partners has funded fsdc’s acquisition of Premier Systems Technology Ltd.
Founded in 2000 and based in Peterborough, fsdc is an Internet portal provider for the legal and IFA sectors. Currently, fsdc provides four main services: Knowledge Bases, Hi-IQ, Consulting and Knowledge Warehousing. The company’s aim is to lead the UK Business-to-Business Legal and Financial Services sector market in the Internet-based delivery of multiple sources of information and business software.
Manchester-based Premier Systems Technology Ltd is a leading supplier of financial software systems to Local Authorities. With the acquisition of Premier Systems, fsdc has increased its product range to include the Quest knowledge engine. This product was developed by Premier Systems, and will allow fsdc to offer faster and more effective searching of legal and financial databases accessed through its Internet portal.
Mick Brookes, chief executive officer of fsdc, said: “Premier, and in particular the knowledge search engine, is a perfect complement to our service offering, opening up many exciting commercial opportunities.”
Richard Ford, deputy chief executive of MTI who has joined the board of fsdc, commented: “MTI was attracted to fsdc by the expertise and experience of the executive team in the provision of information and application services to this complex market sector.”