There's a new accounting software consolidator on the scene, ready to take on the likes of Microsoft, Sage and HgCapital.
At the Systems Union AGM in Farnborough today, chief executive officer Paul Coleman will advise shareholders that a £236.3m cash offer from Extensity represents an opportunity for them to "realise enhanced capital value". The combined organisation will turn over more than $500m a year.
Originally the name of an expenses management system, Extensity was acquired by Canadian ERP developer Geac, along with corporate performance management pioneer Comshare.
Last month, however, Extensity re-emerged as the group brand for Golden Gate Capital, which completed its $1bn acquisition of Geac last month.
A statement issued by Systems Union ahead of the AGM explained: "Extensity Inc believes that the acquisition will provide the following benefits: creation of a leading mid-market focused financial and business intelligence software provider; a wider product offering; strengthening of its direct and indirect presence in the European and Asian markets; and the potential to cross-sell both companies' products to the other's customer base."
More analysis follows.
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