TechnologyOne completes Due Diligence to acquire Avand
Technology One Limited (ASX: TNE), a leading Australian provider of enterprise business software solutions, has acquired Australian enterprise content management (ECM) company, Avand Pty Ltd (Avand).
Executive Chairman, Mr Adrian Di Marco, said the acquisition provides additional opportunities for the company to grow staff numbers, increase its customer base and broaden its best-in-class enterprise suite of products.
“I am pleased to announce that the acquisition of Avand is now complete. The acquisition will provide us with enhanced business opportunities across the utilities, education and corporate sectors and strengthen our position as the dominant software solutions provider for local government organisations across Australia and New Zealand.”
“Today we are one of only a few software companies globally that can provide the breadth and depth of enterprise solutions encompassing Financials, Supply Chain, HR & Payroll, Works & Assets, CRM, Business Intelligence, Budgeting, Student Management and Property & Rating. For our customers this means greater capabilities delivered ‘out of the box’, from a single vendor, that is prepared to take total responsibility for the success of the solution.”
Avand’s ECM solution will become part of TechnologyOne’s House of Products model which ensures that each product has the focus, strategy, people, systems and culture to be the market leader.
Mr Di Marco said the priority for the company is to work with the Avand management team to create a five year strategic plan for the business. The strategic plan will identify how to grow the Avand business, fast track R&D initiatives, improve customer service and integrate with TechnologyOne’s suite of enterprise products.
Avand will leverage TechnologyOne’s shared services capabilities that include offices around Australia, New Zealand, Asia and the UK; as well as ‘back office functions’. Avand will also be re-branded as TechnologyOne Enterprise Content Management over the next few months.
Avand ECM provides a powerful platform with automated workflow functionality for streamlining information capture, sharing, distribution and management. The acquisition will enable TechnologyOne to offer the Avand ECM solution as part of its best-in-class suite of enterprise software solutions, which include TechnologyOne Financials, HR & Payroll, Works & Assets, Business Intelligence, Property & Rating, Budgeting, Performance Planning, Student Management and Supply Chain.