A major drive to sell its Vectus customer relationship management software in the US has been launched by UK-based London Bridge Software Holdings Plc (LBSH). The software was acquired with the company’s acquisition of Hatton Blue Ltd in January this year (CI No 3,585). Chairman Gordon Crawford said it represents a very significant opportunity for organic growth if the investment is made now to grow a sales and support team.
Pitching Vectus against existing players such as Siebel Systems, Onyx and Vantive in their home market is the latest strategy by LBSH to grow revenue in the US which now accounts for 62.1% of group sales.
While LBSH celebrated the largest order in its history for a debt management system for Ford Motor Credit, the company says it has increased product enhancement and development spending to 2m pounds ($3.2m) in the first half, with a similar sum earmarked for the second six months, to keep its products competitive.
As LBSH announced the completion of its $24m acquisition of San Mateo, California-based RSI Group Inc, a provider of software to collect delinquent accounts, the company still has $19.6m in its coffers from a share placing in June for further purchases (CI No 3,673). It is naturally coy about talking about targets but Crawford suggested earlier this year that the company is seeking acquisitions for loan processing software (CI No 3,607).
