SLIEDRECHT, The Netherlands & SAN MATEO, California, USA (DEC. 7th, 2010) — UNIT4, the world’s leading provider of enterprise resource planning (ERP) and financial management software for fast changing organizations, today announced an agreement for FinancialForce.com to purchase the PS Enterprise cloud solution from US-based cloud computing company Appirio.
This will be the first acquisition by FinancialForce.com, the cloud solutions company which is majority owned by UNIT4 NV (NYSE Euronext: UNIT4) and part-owned by salesforce.com (NYSE: CRM). The new product will extend the company’s solution from accounting into professional services automation, a strategic focus area for the UNIT4 group globally.
The acquisition will bring together the leading cloud accounting system built natively on Force.com with the leading Professional Services Automation solution on the same platform. This will create the first end-to-end cloud solution for services companies on Force.com, the most successful enterprise cloud computing platform worldwide.
“The acquisition of this application makes strategic sense for FinancialForce.com,” said Chris Ouwinga, President & CEO of UNIT4 NV. “It will extend the functionality of FinancialForce Accounting in areas like time recording and project management which will satisfy the demand of many existing customers as well as giving a stronger focus on services-based organizations, an area that UNIT4 has excelled in for many years.”
The acquisition will be paid for in cash from FinancialForce.com’s existing funds.
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UNIT4 is a global business software and services company aimed at helping dynamic 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 and CODA financial management software.
UNIT4 is a top six mid-market ERP software player globally and the 2nd largest European ERP supplier. With offices in 17 European countries, as well as 7 countries across North America, Asia Pacific and Africa and sales activities in several other countries, a revenue of €379.4 million was realized in 2009. UNIT4 is headquartered in Sliedrecht, the Netherlands. The company has 4,160 employees.
UNIT4 is listed on Euronext Amsterdam by NYSE Euronext 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 www.unit4.com.
FinancialForce.com builds cloud accounting applications on Force.com, the world’s leading enterprise cloud computing platform from Salesforce.com. FinancialForce applications are designed for growing organizations, helping them to align Finance, Sales and Service in a way that enables them to increase the bottom line, not just the revenue. The expertise behind the company is based on 30 years of experience in developing accounting systems. FinancialForce.com is backed by two of the biggest players in the business, UNIT4 and Salesforce.com.