TechnologyOne, an Australian SaaS enterprise, has agreed to acquire UK-based higher education software provider Scientia for £12 million /$16.6 million in cash.
TechnologyOne claims to have 75% of Higher Education institutions in Australia using its software, while Scientia claims 50% market share in the UK.
The acquisition includes an initial payment of £6m and further payments.
Adrian Di Marco, TechnologyOne founder and Executive Chairman said: “This is our company’s first international acquisition and it demonstrates our deep commitment to serving the higher education sector and the UK market. The unique IP and market-leading functionality of Scientia’s product supports our vision of delivering enterprise software that is incredibly easy to use.”
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