PRN: UNIT4 Extends Asia Presence With Acquisition of PROSOFT
UNIT4 Extends Asia Presence With Acquisition of PROSOFT
SLIEDRECHT, The Netherlands, August 31, 2011 /PRNewswire/ --
UNIT4, the world's leading provider of business software for Businesses Living IN Change (BLINC™), today announced that it has entered into an agreement to acquire the Singapore based Professional Software Systems Pte Ltd (PROSOFT). PROSOFT specializes in the provision of Human Resources (HR) software solutions to around 300 customer organizations with operations in Singapore, Malaysia, Indonesia, Thailand, Philippines, Japan, Hong Kong and UAE.
Established in 1988, PROSOFT is a privately-held company helping HR professionals across a wide range of industries and sectorsto implement and streamline a broad range of web-enabled HR services likeÂ HRMS, Payroll, Leave & Benefits Management, Performance Appraisal and Recruitment systems. Delivering self-service solutions, hosted options and outsourcing of key processes, PROSOFT helps fast-changing organizations when expanding or reorganizing in the Asia Pacific region to manage HR with a minimum of overhead. Among its customers are NestlÃ© Singapore, Changi Airport International Pte Ltd, Pfizer Asia Pacific Pte Ltd, Carrefour Sing! apore Pte Ltd, Ernst & Young Solutions LLP and Toyota Motor Asia Pacific Pte Limited.Â
The expected revenues over full year 2011 are approximately € 3.5 million and the profitability is in line with UNIT4 as a whole. The acquisition is funded from UNIT4's own cash reserves.
Following completion of the transaction the PROSOFT organization will be rebranded UNIT4 Prosoft and its 46 staff will continue to support its extensive customer base and develop its solutions. The solutions will be integrated with UNIT4's business software solutions, which will lead to significant synergies.
Chris Ouwinga, President and CEO of UNIT4, said: "This acquisition is significant for us as we look to expand across the Asia Pacific region. PROSOFT has an excellent track record of catering for the specific HR requirements of companies across the region and its solutions will integrate seamlessly with our solutions. Both companies share the common aim of helping fast changing organizations manage their businesses more efficiently, designing and delivering first class solutions and services that help customers grow in challenging and evolving markets. We look forward to working with the PROSOFT team as we build our business together."
UNIT4 is a global business software and services company aimed at helping dynamic public sector, and commercial services organizations to embrace change simply, quickly and cost effectively in a market sector it calls 'Businesses Living IN Change' (BLINC)™.
The Group incorporates a number of the world's leading change embracing software brands including Agresso Business World, our flagship ERP suite for mid-sized services intensive organizations and Coda, our best-of-class financial management software.
With operations in 17 European countries, as well as 7 countries across North America, Asia Pacific and Africa and sales activities in several other countries, its revenue was €421.7 million in 2010.
UNIT4 is headquartered in Sliedrecht, the Netherlands and has over 4,000 employees. It is listed on Euronext Amsterdam 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, follow us on Twitter @UNIT4_Group or join us on Facebook at http://www.facebook.com/UNIT4BusinessSoftwareNV.