UNIT4 Announces Acquisition of Teta S.A
UNIT4 N.V. has bolstered its position as one of the world’s leaders in ERP and financial management software with the acquisition of Teta, S.A., one of Poland’s leading ERP and HR software providers.
The acquisition was bought through existing cash balances and Teta is no longer listed on the Warsaw Stock Exchange.
Unit 4 is a global business software and services company aimed at helping dynamic organizations manage their business needs effectively. Some of their software brands include Agresso Business World and Coda Financials.
The Teta acquisition gives UNIT 4 a leading position in the Polish ERP and HR software market and the Hungarian HR software market. Additionally, UNIT 4 will also gain a platform for expansion in Central and Eastern Europe, which has a high growth market for ERP software.
This acquisition will be mutually advantageous for both UNIT 4 and Teta. UNIT4 will gain a new highly regarded product offering in the form of Teta Constellation, Navireo and Insert. Teta will benefit from being associated with an internationally recognized brand and increased critical mass, which will allow it to compete more effectively for larger deals, invest more in new products, and engage more actively in market consolidation.
“As a division of UNIT4, we want to help Teta realize its growth strategy and are committed to supporting its customers and products in the future,” said Chris Ouwinga, President and CEO of UNIT4. “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.
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