Atlantic Global goes up for sale

The company, based in Cleckheaton, West Yorkshire, said it had received two confidential preliminary expressions of interest to acquire the company.

Atlantic said that while it has a secure future as an independent business, it recognises that there may be other organisations which are better placed to take the company forward.

It added that a takeover could significantly accelerate the growth of the business and take advantage of opportunities in the market.

Atlantic said it reserves the right to reject any approach or terminate discussions at any time.

It added that there can be no certainty any offer will be made.

The announcement co-incided with half year results which showed pre-tax profits rose 57 per cent to £33,000 in the six months to June 30.

Atlantic’s chairman Adrian Bradshaw said: “Despite difficult economic conditions continuing in the period under review, the group was profitable and secured several significant new customer wins during the first half of 2011.

“The number of Atlantic Global customers has risen to 120, with over one third now using our SaaS customer platform.”

Revenue fell to £703,000 from £728,000 in the same period of 2010.

The group reported a loss of £220,000 in 2010 after a number of big contracts were deferred to 2011.

Atlantic designs and sells software which is used by businesses to manage their resources.

Last November, it launched its fully automated self service SaaS product.

Atlantic said the introduction of the automated SaaS platform will provide an effective means of targeting small and medium-sized enterprises including individual departments within a larger organisation.

Atlantic develops cost-effective software applications to manage projects and improve the management of the business and counts GlaxoSmithKline, Pfizer and Aviva among its long-standing clients.