TechnologyOne to acquire ICON Software, further expanding reach into local government sector
TechnologyOne (ASX:TNE), Australia's largest publicly listed software company and a leader in innovation and creativity, has entered into an agreement to acquire ICON Software (ICON), for approximately $10 million.
This acquisition builds on TechnologyOne’s dominant market position in local government. Over 70 per cent of the 100 largest councils, and one third of all councils, across Australia and New Zealand partner with TechnologyOne today. These councils benefit from the company’s deep understanding of local government and ongoing investment in solutions for the sector.
Delivering innovative and relevant solutions to meet the current and future needs of local government is a strategic focus for TechnologyOne. The unique IP and specialist functionality we are acquiring with ICON supports our vision of enabling councils to interact with their communities efficiently through online and digital channels.
Established in 2008, ICON is Australasia's leading provider of ePlanning and eGovernment software. ICON and TechnologyOne have successfully worked together over many years to deliver an integrated ePlanning and assessment solution to local government customers.
Planning is a core business requirement in local government with online self-service being a major initiative driven by both customer demand and efficiency reforms. Every day, thousands of people across Australia and New Zealand use an ICON software solution on council websites to track applications and permits, view planning schemes and browse community plans.
TechnologyOne and ICON will continue to deliver a powerful Development Application/Consent Assessment solution. The solution is used to manage all planning scheme information, online applications, assessments and tracking. Councils, developers and the community all benefit from a streamlined self-service process.
Adrian Di Marco, TechnologyOne’s Executive Chairman, said that the acquisition provided important functionality for the company’s offering in the local government sector, as well as deep domain expertise.
“ICON’s focus on online services for local government has many synergies with TechnologyOne,” said Adrian Di Marco.
“We already share many of ICON’s customers,” said Mr Di Marco. “The acquisition will enable us to offer an even more effective, best-in-class ePlanning and assessment solution. The solution also fits into our integrated and online centric local government enterprise vision. It adds to the already extensive set of online transactions available, further simplifying council operations as we continue to expand the depth and breadth of our solution.”
“Our focus is on delivering an end-to-end solution and a single point of accountability for all TechnologyOne customers.”
- Ends -
TechnologyOne (ASX:TNE) is Australia's largest publicly listed software company and one of Australia's top 200 ASX-listed companies, with offices across six countries. We create solutions that transform business and make life simple for our customers. We do this by providing powerful, deeply integrated enterprise software that is incredibly easy to use. Over 1,000 leading corporations, government departments and statutory authorities are powered by our software.
We participate in only seven key markets: government, local government, financial services, education, health and community services, utilities and managed services. For these markets we develop, market, sell, implement, support and run our preconfigured solutions, which reduce time, cost and risk for our customers.
For 27 years, we have been providing our customers enterprise software that evolves and adapts to new and emerging technologies, allowing them to focus on their business and not technology. Today, our software is available on the TechnologyOne Cloud and across smart mobile devices.
For further information please visit: TechnologyOneCorp.com