A company providing subscription management and billing tools for the media and publishing industry has been acquired by listed group Aptitude Software.

The deal for MPP Global Solutions, headquartered in Warrington, is £37.1 million, with founders Paul Johnson and Chris Cheney set to exit the business.

Its cloud-based eSuite platform serves around 40 international enterprise customers across the media and publishing sector and a growing number of other verticals, generating annual recurring revenue of £8m.

The deal brings around 100 new employees to the group, most based in northern England, with the North West base set to become a second long-term innovation centre for Aptitude Software Group.

Around 60 of the workforce based there are in technology and software development roles.

“I am delighted to welcome the MPP Global team and customers into the group, expanding both our current offering and future innovation capabilities,” said Aptitude CEO Jeremy Suddards.

“We believe MPP Global is a strong strategic fit, with both businesses positioned to capitalise on the growth in Subscription offerings, and we are excited for the new opportunities the acquisition will bring.”