22 May 2010

ICON has successfully advised on the sale of a UK Business Intelligence Software company XTAQ to quoted UK Plc eg Solutions Plc.

Founded in 1993 XTAQ is a privately owned business based in Bristol. The company has developed its Nuqleus business performance measurement software which it distributes with support services to deliver improved operational performance and effectiveness.

XTAQ’s current customers include Aegon, Barclaycard, Citibank, GE Capital, Principality Building Society and Royal Bank of Scotland as well as a number of public sector clients who typically use Nuqleus within processing centres, call centres and mobile professional workforces.

Elizabeth Gooch, Chief Executive Officer, of eg Solutions who provide back office optimisation software commented: “We believe that the acquisition of XTAQ is an excellent ‘bolt on’ to eg. It strengthens our position in the back office optimisation market, extends our product range, expands our customer base and adds to our recurring revenues. Furthermore, we consider that the sales prospects of Nuqleus 3D will be significantly improved by XTAQ being part of a larger and stronger business.”