BRISBANE, AUSTRALIA: TechnologyOne, one of Australia’s largest enterprise Software as a Service (SaaS) companies, has entered into an agreement for the acquisition of Scientia Resource Management Limited, a United Kingdom company servicing the higher education sector.
The likely consideration will be £12 million and includes an initial payment of £6 million and further payments, based on achieving progressive earnouts out to FY23. Total consideration will be in the form of cash payments funded from internal sources. The acquisition is earnings neutral for FY21, a news release said.
Edward Chung, TechnologyOne’s CEO said, “This acquisition forms part of our strategic focus to deliver the deepest functionality for Higher Education and it will accelerate our growth and competitive position in the UK as well as have significant benefits in the Australian Higher Education market.”
“Scientia’s market leading product Syllabus Plus provides advanced academic timetabling and resource scheduling. Their products provide mission critical software for over 150 leading Universities across the United Kingdom, and Australia including the University of St Andrews, University of Exeter, Monash University and the University of Queensland”
“The acquisition further expands our Global SaaS ERP solution for Higher Education. The integration of the Scientia’s advanced academic timetabling and resource scheduling capabilities, combined with our market leading Student Management, HR & Payroll, Enterprise Asset Management and Finance capabilities, will provide smarter decision-making eliminating underutilisation of space and resources that is paramount for Higher Education across the globe in a post-covid world” Mr Chung said.
Adrian Di Marco the company’s founder and Executive Chairman said, “This is our first international acquisition and demonstrates our deep commitment to both Higher Education and the UK market. The unique IP and market-leading functionality of Syllabus Plus supports our vision of delivering enterprise software that is incredibly easy to use and that substantially enhances our customers’ experience in the Higher Education sector. We are excited about the opportunities this will bring to both our UK and Australian customers in the coming years.”
TechnologyOne is Australia’s largest enterprise software company and one of Australia’s top 150 ASX-listed companies, with offices across six countries.
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3 Sep, 2:46 pm GMT+10 ·Disclaimer
