Cedar Group Plc, the Bristol, UK-based software and services group says it is spending up to 1.25m pounds ($2m) to buy FMS, a provider of financial systems to over 50 UK local authorities. The acquisition, from Leading Software Ltd, is designed to increase the portfolio of products Cedar can offer local authorities. Cedar has also formed a strategic relationship with Orbis Software Ltd, another subsidiary of Leading Software, which will enable it to sell Orbis’ human resources software. Cedar recently announced plans to raise 26.7m pounds ($44m) from a share issue to finance future growth (CI No 3,759).
