Results Squared sold to IRIS Software Group

Initium has managed the completion of IRIS Software Group’s acquisition of SaaS provider Results Squared, the software developer behind one of the most successful school messaging apps in the UK.

Founded in 2006, Sheffield-based Results Squared has developed a suite of market-leading cloud and mobile applications to help parents keep up to date and assist schools in managing their assets.

IRIS Software Group is the UK’s market leader in business-critical software across a variety of industries and has strategically expanded its offering in the education sector.

Deal commentary

At the time of the transaction, Kevin Dady, CEO of IRIS Software Group, said: “I’m delighted to welcome Results Squared to IRIS Software Group to add further value to our PS Financials education market portfolio.  This is another stepping stone in our strategic plan to grow the business and our mission to deliver outstanding service and innovation for our customers; further enhancing the value we create and providing a flawless service.”

Matthew Smith, Managing Director and founder of Results Squared, said: “Our customers have relied on us to save time, money and help improve performance.  Joining an organisation with a strong focus and investment in the education market will enable us to bring our technology to an even wider audience.  PS Financials has a strong reputation for excellence in the education market and we’re delighted to join forces to provide a software portfolio with unrivalled breadth and depth to best serve the needs of the education market.”

The deal value was undisclosed. This was the second Initium-led transaction to feature IRIS Software Group as the acquirer, following the sale of Octopus HR.

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