TFB Join Forces with Tikit

April 2, 2008

The latest change in the landscape of legal software supply is that Tikit has acquired TFB. The effect is that the expanded Tikit Group is a very substantial supplier of IT solutions and services to the legal profession in the UK. It’s a significant move that will see the combined client base range from regional firms to the magic circle.
An important part of the acquisition, which is for cash and shares, will see TFB continue to trade as an independent company with Simon Hill (Managing Director) and Mark Garnish (Business Development Director) remaining on the TFB Group Board in the same roles as before. Both have signed long-term contracts to remain with the company and have become significant shareholders in Tikit Group PLC.
The consideration for the acquisition is £7.4 million, which is to be satisfied by £4.1 million in cash and 1,441,518 Tikit ordinary shares, at 229 pence per ordinary share, to be issued on completion
Simon Hill commented ‘We have always enjoyed a very good relationship with Tikit and whilst we serve the same profession we have very few shared clients. As a result of this deal the Tikit Group will be able to offer solutions to all law firms in the UK and beyond, irrespective of size. Like Tikit, TFB has always valued our independence and I am delighted that TFB will remain as an independent organisation inside one of the largest and most significant suppliers to professional organisations.’
Mark Garnish added ‘We are particularly excited about the opportunities for knowledge and product sharing between the two companies in the Group. Tikit’s expertise in the largest firms in the UK is second to none and we are looking forward to gaining a greater understanding of these areas of our market which can only have a positive impact for our clients with the challenges the profession will face over the coming years.’
About TFB:
As a market leading supplier TFB’s name has become synonymous with the provision of the most advanced software solutions available to the legal profession. TFB’s market strength is accredited to its flagship case and practice management system, Partner for Windows and the versatility of its design which can be tailored to each individual firm’s requirements whether large or small. This, combined with the company’s dedication to customer care and range of additional products that feature in the Partner Program, sets TFB apart from other suppliers.