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We had always thought that web-software developer, Abacus, did not belong in HR software firm, Bond International’s portfolio (e.g. see Bond hopeful as staffing sector recovers), and indeed they have finally got shot of it. Abacus became part of the Bond family back in Jan. 2007 with the acquisition of HR software firm, Gowi, for which Bond paid some £9m. Bond has now sold Abacus to management for a maximum of £1.75m, pretty much its net asset value. Abacus had been a distraction for Bond and this looks like a good result.
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Bond sells Abacus to management
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