Global business software and services company UNIT4 has entered into an agreement to acquire Singapore-based Professional Software Systems (Prosoft), as part of its plans to expand across the Asia Pacific region.
Prosoft specializes in the provision of Human Resources (HR) software solutions to around 300 customer organizations with operations in Singapore, Malaysia, Indonesia, Thailand, Philippines, Japan, Hong Kong and UAE.
Post transaction, the Prosoft organization will be rebranded as UNIT4 Prosoft and its 46 staff will continue to support its extensive customer base and develop its solutions that will be integrated with UNIT4’s business software solutions, which will lead to significant synergies.
Delivering self-service solutions, hosted options and outsourcing of key processes, Prosoft helps fast-changing organizations when expanding or reorganizing in the Asia Pacific region to manage HR with a minimum of overhead.
The acquisition is funded through UNIT4’s own cash reserves.
UNIT4 president and CEO Chris Ouwinga said the acquisition is significant as they look to expand across the Asia Pacific region.
”We look forward to working with the Prosoft team as we build our business together," Ouwinga said.
The expected revenues over full year 2011 are approximately €3.5m and the profitability is in line with UNIT4 as a whole, the company said.
