SLIEDRECHT, The Netherlands, November 29, 2010 /PRNewswire/ --
- Investment in Leading Polish ERP and HR Software Provider
- Expansion of Customer Base and Product Portfolio in New High Growth Market
UNIT4 N.V. ("UNIT4"), the world's leading provider of ERP and financial management software for fast changing organizations, today announced completion of the acquisition of Teta S.A, one of Poland's leading ERP and HR software providers.
The acquisition provides UNIT4 with leading positions in the Polish ERP and HR software market and the Hungarian HR software market, and a platform for expansion in Central and Eastern Europe, where the ERP software market is growing at a faster pace than in Western Europe. UNIT4 will benefit from a new highly regarded product offering in the form of Teta Constellation, Navireo and Insert. It is expected that the Teta business will also benefit from an internationally recognized brand and increased critical mass which will enable the company to compete more effectively for larger deals, further invest in new products and more actively engage in market consolidation.
The acquisition has been fully financed through existing cash balances. A compulsory squeeze-out of the minority shareholders has been completed and Teta has been delisted from the Warsaw Stock Exchange.
"Teta is a leading player in the Polish ERP and HR software market and we expect further consolidation in this market," said Chris Ouwinga, President and CEO of UNIT4. "We can help to maintain its market leading position through investment in new products and active engagement in consolidation. As a division of UNIT4, we want to help it realize its growth strategy and are committed to supporting its customers and products in the future."
"We have always followed a disciplined acquisition strategy with a focus on opportunities that enable us to expand in new and high growth markets and extend our customer base or product portfolio. Teta is a strategic acquisition for us and we are already working closely with the management team to further grow and develop the business," he added.
About UNIT4
UNIT4 (http://www.unit4.com/) is a global business software and services company aimed at helping dynamic organizations to embrace change simply, quickly and cost effectively in a market sector it calls 'Businesses Living IN Change' (BLINC)(TM). The Group incorporates a number of the world's leading change embracing software brands including Agresso Business World and Coda financial management software.
Agresso Business World ( http://www.unit4.com/products/agresso-business-world) is our flagship ERP suite for mid-sized services intensive organizations. It is widely acknowledged for delivering ongoing, post-implementation changes without the typical external IT costs and services that cost firms huge sums of money each year. This is achieved thanks to its powerful VITA(TM) architecture which is unmatched in the ERP world.
Coda Financials (http://www.unit4.com/products/coda) is our award-winning suite of best-of-class financial management software designed to integrate with your industry- and company-specific applications. Coda's LINK(TM) architecture sets it apart from ordinary accounting systems by providing a financial information backbone for companies with fast-changing and mixed application environments. It is a global accounting solution for mid-to large sized organizations, offering a "no compromise" approach to financial modeling, process control and application choice. UNIT4 is a top six mid-market ERP software player globally and the 2nd largest European ERP supplier. With offices in 17 European countries, as well as 7 countries across North America, Asia Pacific and Africa and sales activities in several other countries, a revenue of EUR379.4 million was realized in 2009. UNIT4 is headquartered in Sliedrecht, the Netherlands. The company has 4,160 employees.
UNIT4 is listed on Euronext Amsterdam by NYSE Euronext and is included in the Amsterdam Midcap Index (AMX). For more information on UNIT4 or any of its operating companies, please visit the website at http://www.unit4.com.
For more information, please visit: http://www.unit4.com, or contact:
Emma Hoyle
Group PR Manager
UNIT4
+44-1423-537-977
[email protected]
SOURCE UNIT4
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