Sliedrecht, the Netherlands, 08 May 2006 Unit 4 Agresso, international supplier of business software, has established a subsidiary in Portugal, through which it has acquired the assets of its Portuguese distributor Intelligent Business. The acquisition will strengthen Unit 4 Agresso’s position in the South European market and, at the same time, will enable the group to develop its business in Brazil. Intelligent Business has been a partner of Unit 4 Agresso for five years and has developed a high level of knowledge and experience around Agresso Business World. Intelligent Business has over 30 customers. Due to its limited capacity and its vulnerability as an independent company it has experienced limited growth. Being now part of Unit 4 Agresso, and its technical and financial support, the former Intelligent Business team will be able to fully leverage on its skills and references. Over the last few years, Intelligent Business fully translated Agresso Business World into Portuguese and localized the product suite to meet Portuguese specific legislation and business practices. As a result, not only Portuguese customers can fully benefit from the power and flexibility of the Agresso Business World suite, but Brazilian companies have the opportunity to become Agresso Business World customers as well. Besides counting on group-wide resources, the new Portuguese subsidiary will closely cooperate with and be supported by the larger and more mature Spanish one. "Through this acquisition we do not aim at immediately growing our top or bottom lines but at paving the path for mid term organic growth into the Portuguese and Brazilian markets while increasing our local support and service capabilities for existing multinational customers already present in either of those countries”, explains Chris Ouwinga, CEO of Unit 4 Agresso. The new Portuguese subsidiary, based in Lisbon, will start its operations with 6 employees and aims to generate a turnover of 0,5 million euro with positive EBITDA during the last three quarters of 2006. The asset acquisition from the former distributor will be financed from Unit 4 Agresso’s own resources. AGRESSO Business World
AGRESSO Business World is an advanced financial-administrative system that facilitates the operational management of professional services organizations and helps them to achieve their objectives. The experience Unit 4 Agresso gained in this industry has led to the recognition of common industry specific requirements and their incorporation into the standard software. More information:
Unit 4 Agresso N.V.
Edwin van Leeuwen CFO
T: +31 (0)184 444444
F: +31 (0)184 444463
edwin.van.leeuwen@unit4agresso.com |