Ashurst advised Xchanging plc, the business process, procurement and technology services provider, on its 100% acquisition of the spend analytics company Spikes Cavell Analytic Ltd ("SCAL") on a cash free, debt free basis.

The acquisition is subject to certain customary closing conditions and is expected to complete by the end of March 2015.

SCAL is a British company which provides spend analytics technology and services mainly to public sector institutions in the UK and higher education authorities in the USA, but also increasingly to the private sector. Based in Newbury (UK) and Virginia (US) and with 35 employees, SCAL brings to Xchanging a portfolio of c. 60 existing lead customers, some of whom represent groups.

The Ashurst team was led by corporate partner Karen Davies, assisted by senior associate David Dowding and associates Claire Broom and Andrew McLaren. Partner Paul Randall advised on the employment and incentives aspects of the transaction, assisted by counsel Stephen Diosi, associate Louise Thawley and solicitor Emma James. Tax advice was provided by partner Richard Palmer, assisted by senior associate Philippa Michie and associate James Seddon, Associate Caroline Hogan provided IP advice.