Financial management, workflow and computer output software firm Computron Software Europe Ltd has become one of the largest dedicated financial software firms in France with its acquisition of GSI-Finances, the financial software division of Generale de Service Informatique SA, GSI. Originally the computer services arm of what is now Alcatel Alsthom SA, GSI was spun off in a management buyout in 1987 (CI No 818). It remained independent until August last year, when it was bought by Roseland, New Jersey-based bureau operator Automatic Data Processing Inc. Computron paid $3m for GSI-Finances, $1.5m to be paid on signing, the balabnce over the next nine months. The division last year contributed more than $10m in revenue and $900,000 profit to GSI. It will be renamed Computron Software France Inc. Computron will take on the division’s 60 staff, and over 80 customers that currently run GSI-Finances’ financial software. The company says this will extend the potential customers for its integrated workflow and Computer Output On-Line software, as well as its stand-alone products.
