Agresso announces merger plans
Agresso Group, the Norwegian-based financial and business information management system provider, has unveiled plans to merge with Dutch-based ERP-provider company Unit 4.
The proposed merger is expected to be completed by November – and the aim of the move is to enable the newly-formed group to become a ‘strong’ player in the European e-business software market.
An Agresso spokesman said the two companies had ‘complementary products and geographical bases’. Agresso has a presence in the UK, Scandinavia, France and Germany, with Unit 4 focused on the Netherlands and Belgium.
Both companies offer e-business enterprise software solutions for the mid-market. Agresso recently launched Agresso Business World, the latest version of its Agresso 5 back office system, while Unit 4’s main business units in distribution, manufacturing and internet security solutions.
John Crooks, managing director of Agresso UK, said: ‘This isan extremely positive move for us. It will open up new territories, provide great opportunities for revenue growth and enhance our research and development capabilities.
‘The launch of Agresso Business World signalled a fundamental repositioning for Agresso towards e-business solutions and the merger with a leading player in that market will strengthen that new focus.’
Under the merger proposals Unit 4 will be the holding company and will have 72% of the combined group, with current Agresso shareholders controlling the remaining 28%.
Linkswww.agresso.com