The Heath Computer Services Ltd arm of insurance broker C E Heath Plc is to acquire a 60% stake in Saffron Computer Services Ltd, based in South London, paying ú528,000 cash. It is to acquire the other 40% between 1996 and 1998 at a price based on Saffron’s profits at the time. Saffron specialises in development and marketing of housing management systems to local government and housing associations. In the year to September 30, it made pre-tax profits of around ú200,000 and finished the year with net assets of about ú250,000. The new Heath Computer Services brings together all the insurance broker’s computing interests, principally the payroll and personnel software specialist Peterborough Software and the Datasure insurance software firm.
