CompuGroup outbids IBA for iSoft

German software firm CompuGroup has trumped Australian's IBA Group bid for embattled NHS supplier iSoft by 19 per cent.

As IT PRO reported, IBA and iSoft agreed a deal last month worth £140 million following negotiations with CSC, iSoft's largest customer, which had previously blocked the sale.

CompuGroup offered £160 million for healthcare software supplier iSoft, an 18.9 per cent premium to the IBA offer. The iSoft board recommended shareholders accept the new offer.

John Weston, Chairman and acting chief executive of iSoft, said: "CompuGroup's offer represents, in the view of the board, superior value for iSoft shareholders compared with the offer by IBA."

"We are delighted that iSoft has decided to recommend our proposed offer," said Frank Gotthardt, chief executive of Compugroup. "It is a further defining moment for CompuGroup following our recent successful public offering."

The IBA and iSoft deal needed approval from CSC because of complicated NHS National Programme for IT (NPfIT) contracts. CompuGroup has agreed to sell the NHS portion of iSoft's business, including the Lorenzo software, to CSC for an undisclosed sum.

"CompuGroup has agreed with CSC a mutually attractive solution to service the National Programme for IT which fits into CompuGroup's focused business model to ensure that it maintains its position as one of the world's leading healthcare software companies," said Gotthardt.

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