The acquisition is expected to increase TechnologyOne’s customer base by over 170 additional organisations and to round off the company’s packaged suite of enterprise software solutions with the inclusion of Avand’s ECM software, DataWorks.
“Over the years we have watched Avand become the dominant supplier of enterprise content management software to local government and knew their solutions were the next piece of the puzzle we wanted to offer as part of a total integrated solution to local government,” said TechnologyOne executive chairman, Adrian Di Marco.
TechnologyOne has been a major software solutions provider to local Australian governments for over ten years, providing financials, HR & payroll, works & assets, business intelligence, property & rating, budgeting, performance planning and supply chain as part of its suite of enterprise software solutions.
Although Di Marco was reluctant to disclose the amount of revenue increase the acquisition is expected to bring TechnologyOne, he said it would be a reasonable amount.
Avand will continue to run as an operating unit within TechnologyOne, while all of its 75 staff will be retained, boosting TechnologyOne’s total head count to around the 570 mark, Di Marco said. He added that the company also plans to take on an additional 100 staff by year’s end.
“The good thing about this deal is that Australian grown technology is staying in Australia,” Di Marco said. “We see ourselves very much as a big brother, a company that can provide them the access to what they need to really grow their business.”
TechnologyOne acquires Avand for $10 million
By Mitchell Bingemann on Oct 12, 2007 2:16PM