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TechnologyOne Completes Due Diligence to Acquire Avand

  • 30 October, 2007 10:16

<p>BRISBANE, 30 October 2007 - 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).</p>
<p>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.</p>
<p>“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.”</p>
<p>“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 &amp; Payroll, Works &amp; Assets, CRM, Business Intelligence, Budgeting, Student Management and Property &amp; 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.”</p>
<p>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.</p>
<p>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&amp;D initiatives, improve customer service and integrate with TechnologyOne’s suite of enterprise products.</p>
<p>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.</p>
<p>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 &amp; Payroll, Works &amp; Assets, Business Intelligence, Property &amp; Rating, Budgeting, Performance Planning, Student Management and Supply Chain.</p>
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<p>About TechnologyOne</p>
<p>TechnologyOne has been providing comprehensive and deeply integrated enterprise business software solutions for 20 years. The company’s unique value proposition, The Power of One, is that it develops, markets, sells, implements and supports its own world class, fully integrated software solutions including Financials, HR &amp; Payroll, Supply Chain, Business Intelligence, Budgeting, Performance Planning, Property, Student Management and Works &amp; Assets. The company’s new generation Connected Intelligence (Ci) solution suite is based on leading edge, state of the art technology and backed up by a substantial research and development program to ensure it continues to provide its clients with a significant competitive advantage and long term security. For further information please visit</p>
<p>www.technologyonecorp.com</p>
<p>Media Contact Details</p>
<p>For more information, please contact:</p>
<p>Genevieve Smith, Corporate Communications Manager, TechnologyOne</p>
<p>Phone (07) 3377 7562 Mobile 0414 848 846</p>
<p>Sally Robinson, Espresso Communications</p>
<p>Phone (02) 9357 5544 or sally@espressocomms.com.au.</p>

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