Software Circle plc to acquire Gintech Solutions Limited

Software Circle plc (AIM: SFT) announced on 26 October 2026 that it has acquired the entire issued share capital of Gintech Solutions Limited. Through its wholly owned subsidiary Avebury Computing Limited, trading as Midexpro, Gintech provides specialist practice management software to the UK private healthcare market.

Midexpro was built and led by Caroline Corrigan Parker and Gary Parker since 2014 and supports nearly 800 private medical practices. Software Circle reports gross revenue retention above 95% per annum. Unaudited financial statements for the year ended 30 June 2026 showed revenue of £1.1m, and Software Circle says its valuation is based on an expected EBITDA run rate of approximately £0.5m after adjustments. Gary Parker will provide consultancy services for at least one year after completion.

Software Circle describes the total consideration as up to £4.5m, satisfied in cash on a debt free/cash free basis. Of that, £2.6m was paid at completion and £0.6m is deferred to the first anniversary of completion. A further amount of up to £1.3m is contingent on future financial performance targets (the Earn-out). Gavin Cockerill, Software Circle's CEO, said Midexpro is its twelfth vertical market software business and joins its health and social care sector.

The initial £2.6m was funded by a drawdown from the existing Revolving Credit Facility, which now stands at £13.2m. The deferred £0.6m and any Earn-out will be paid in cash. The Earn-out depends on Midexpro meeting annual recurring revenue and EBITDA targets over the two-year period from acquisition.