Coda acquires Swedish business

Another acquisition has been made in the business software market, with
Coda’s purchase of Swedish software company Simple Concepts AB for 3.25m euros
(£2.26m) in cash, plus incentive-based payments.

SC’s consolidation and treasury software, OCRA, will be made available as
part of Coda’s financial intelligence suite.

Consolidation applications handle the process of analysing, reporting and
reconciling the accounts from across a group of companies, into a single
‘consolidated’ group report.

The OCRA product delivers this capability via the internet, and will be
available to customers in Q4 2005.

‘We’re extending our product line to meet compliance issues like the OFR and
Sarbox’, said Coda group marketing manager Dave Turner.

‘This acquisition is driven to provide better control and visibility to FDs.’

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