CDC software acquires iDC
CDC Software, an ERP solutions vendor, announced it plans to purchase Information Development Consultants Inc. (iDC). iDC is a web-based ERP software service for state and local governments as well as non-profit organizations.
In an effort to bolster their SaaS initiative, CDC has been strategically acquiring cloud-based vendors. Last February, CDC acquired Computility, a Saas management software solution with web collaboration tools. CDC Software is a hybrid company with both on-premise and on-demand ERP solutions.
iDC is a Chicago-based private held company. iDC developed 4gov ®, a government fund accounting and ERP solution, for state and local governments. iDC’s PlusFund® is an ERP solution specifically designed for non-profit organizations. iDC ERP systems are scalable and can support small communities to national governments. iDC was one of the first vendors to offer web-based ERP solutions for state and local government markets.
CDC Software plans to leverage iDC solutions to tap into the state and local government markets as well as integrating iDC technology into CDC gomembers enterprise product line. CDC acquired gomembers last year in an effort to acquire complimentary SaaS solutions that target the non-profit sector. CDC also offers on-premise and on-demand solutions for eCommerce, manufacturing operations, supply chain, global trade and customer relationship management.
“We are extremely excited to complete the acquisition of iDC,” said CDC gomembers president, Paul Plaia III. “It will help us enter into the state and local government markets and further expand our presence in the NFP market. It’s important for governments to prove to their constituents that they are committed to balancing government spending with revenue. We believe that having a robust SaaS financial management system like the iDC Solutions will give the government executives and elected officials the tools they need to plan and manage public money. We also believe that the state and local government markets offer strong revenue opportunities since e-government has grown steadily over the years. We plan to continue evaluating more companies like these as we build scale and expand globally in the key NFP and Government vertical markets.”
“Most importantly, we also look forward to working with iDC customers and offering them our high quality solutions and services and access to our broad global business and technology infrastructure. The iDC acquisition not only fits strategically, but also meets our disciplined acquisition criteria and is expected to be earnings accretive immediately. This acquisition is part of our SaaS roll-up strategy to expand CDC SaaS solutions. Therefore, we are planning on making more investments to further expand our footprint in the growing SaaS space.”
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