UNIT4 N.V. the ERP and financial management software provider (which owns CODA and Agresso), says it has completed the acquisition of Teta S.A, one of Poland’s leading ERP and HR software providers.
UNIT 4 says the acquisition provides it with leading positions in the Polish ERP and HR software market and the Hungarian HR software market, and a platform for expansion in Central and Eastern Europe, where the ERP software market is growing at a faster pace than in Western Europe. UNIT4 says it will benefit from a new highly regarded product offering in the form of Teta Constellation, Navireo and Insert. It is expected that the Teta business will also benefit from an internationally recognised brand and increased critical mass, which will enable the company to compete more effectively for larger deals, further invest in new products and more actively engage in market consolidation.
“Teta is a leading player in the Polish ERP and HR software market and we expect further consolidation in this market,” said Chris Ouwinga, President and CEO of UNIT4. “We can help to maintain its market leading position through investment in new products and active engagement in consolidation. As a division of UNIT4, we want to help it realise its growth strategy and are committed to supporting its customers and products in the future.”
