Press
APAK acquired by Sword Group
It has been announced today that financial systems specialist, APAK, has been acquired by Sword Group. The acquisition is expected to bring a new dimension to APAK who will benefit greatly from Sword Group’s international presence and proven experience of providing high added value technology solutions to a world-wide customer base. The move also marks a culmination of APAK’s remarkable achievements which have seen the company grow into a market leading systems provider for the asset-based finance and retail banking industries.
Commenting on the acquisition, APAK’s CEO Tony Bracey noted: “We are delighted to be joining the Sword Group who will help us to grow and build upon our success in the UK which was started by APAK’s founder Tony Papadopoullos in 1979. Aligning ourselves with Sword will give us that opportunity by allowing APAK to enter new geographical markets and support our clients’ multi-national interests”.
Sword Group’s Operational Director, Tony Holland, echoed Bracey’s sentiments by adding: “This is an excellent move for Sword and for APAK. The APAK acquisition is a significant addition to the Group’s company portfolio that will enhance our range of offerings to the financial services industry. For APAK, Sword will bring its vast international experience and unsurpassed track record of technical expertise in ‘best of breed’ IT solutions. Sword has demonstrated consistent stability for continued growth through well-proven financial governance, whilst pursuing an ambitious acquisitions programme to augment existing market sectors”.
Notes to Editors:
About APAK With over 25 years’ experience of providing specialist financial systems, APAK has become a market leader in the asset-based finance and retail banking sectors. Our superior wholesale and retail finance systems are used by major financial institutions worldwide, processing over £7 billion worth of direct debits and credits through our ASP based systems each year. APAK is also renowned for its expertise in developing and integrating core banking technology. For further information please contact: Mark Johnson - Tel: + 44 (0) 1454 871000, Email: mark.johnson@ApakGroup.com www.apakgroup.com
About Sword Group
The Sword Group is an International IT Products and Services Company that was founded in December 2000 by its Chairman, Jacques Mottard. Jacques’ vision is for Sword to become the best performing global Product and Services Company by identifying, anticipating and satisfying customer requirements whilst delivering profitability year on year and returning exceptional value to all stakeholders. As at the end of December 2006 Sword employed 1,500 staff across 11 countries.
© SWORD UK Ltd.