Bond International Software has acquired the business and assets of two related companies, Team Spirit Software (TSS) and Headcount Services (HCS) from the administrators.
The total consideration will be £1m in cash and the assumption of liabilities of £0.8-£0.9m.

Headquartered in Essex, with approximately 27 staff, TSS specialises in the provision of integrated HR and payroll software to over 250 clients in a wide range of sectors.

HCS, which is based in London and employs 18 staff, uses Team Spirit software to provide HR and payroll bureau services to approximately 600 clients.

Bond International Software is a global provider of recruitment and human capital management (HCM) software and services. Over the past 18 months Bond has been actively growing its HCM business.