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UNIT4 Closes Teta S.A. Acquisition
Published on Nov 29, 2010

UNIT4 N.V. (“UNIT4”), the provider of ERP and financial management software for fast changing organizations, has completed the acquisition of Teta S.A, one of Poland’s leading ERP and HR software providers.

The acquisition provides UNIT4 with leading positions in the Polish ERP and HR software market and the Hungarian HR software market, and a platform for expansion in Central and Eastern Europe, where the ERP software market is growing at a faster pace than in Western Europe. UNIT4 will benefit from a new highly regarded product offering in the form of Teta Constellation, Navireo and Insert. It is expected that the Teta business will also benefit from an internationally recognized brand and increased critical mass which will enable the company to compete more effectively for larger deals, further invest in new products and more actively engage in market consolidation.

The acquisition has been fully financed through existing cash balances. A compulsory squeeze-out of the minority shareholders has been completed and Teta has been delisted from the Warsaw Stock Exchange.

“Teta is a leading player in the Polish ERP and HR software market and we expect further consolidation in this market,” said Chris Ouwinga, President and CEO of UNIT4. “We can help to maintain its market leading position through investment in new products and active engagement in consolidation. As a division of UNIT4, we want to help it realize its growth strategy and are committed to supporting its customers and products in the future.”

“We have always followed a disciplined acquisition strategy with a focus on opportunities that enable us to expand in new and high growth markets and extend our customer base or product portfolio. Teta is a strategic acquisition for us and we are already working closely with the management team to further grow and develop the business,” he added.***

Vendor name: UNIT4
Product type: Banking Systems | ERP | HR

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