CCM, formed in 1987 and based in Dublin, Ireland specialises in the design and development of sophisticated scheduling, resource allocation and finance systems for schools. CCM has over 1,700 customers, which includes nearly all secondary schools in Ireland, 700 UK schools and 80 universities. In the year to 31 July 2002 CCM recorded sales of £3.6m and generated an operating profit of £638,000. The acquisition, after financing and implementation costs and goodwill, is expected to be earnings neutral in 2003.

The use of high quality data is at the core of government’s drive to raise standards in the education sector. Schools therefore need systems and processes that enable them to collate and analyse the wealth of information that is available to them. They also require systems that meet the developing school agenda and have sound architecture, functionality, future proofing and appropriate reporting facilities. CCM’s range of products and the addressable markets make it an ideal fit with Serco’s business goals and offers significant opportunities in this sector.

Commenting on the acquisition, Christopher Hyman – Serco’s Chief Executive said:

“This acquisition adds to Serco’s existing presence in the education sector and brings additional capability that allows us to build on a wide marketplace. CCM’s product set complements Serco’s existing school management and improvement products and will provide a unique integrated toolkit. By combining this with Serco’s change management skills, we will be able to assist schools in addressing their drive for continuous improvement and help meet the governments modernisation agenda.

We are looking forward to working with the management team to maximise the growth potential of the company.”