Enghouse Systems Acquires Visionutveckling AB
MARKHAM, ONTARIO and STOCKHOLM, SWEDEN--(Marketwire - Nov. 1, 2012) - Enghouse Systems Limited (TSX:ESL) announced today that it has acquired Visionutveckling AB (Vision) for a purchase price of approximately $10.9 million, subject to certain price adjustments. Vision's annual revenues for fiscal 2012 were approximately $11.5 million.
Headquartered in Stockholm, Sweden, Vision's leading Attendant and Contact Center software solutions have been installed in over 1,300 customer sites ranging from small to large enterprises in both the public and private sectors. The Vision 80/20 Contact Center product is a full multi-media product offering a cloud or on-premise solution. Founded in 2002, Vision has 88 employees and offices in Sweden, Norway and Denmark.
"The acquisition is a great fit as both Enghouse and Vision have deep industry expertise and are committed to building long-term customer relationships, offering complementary solutions on-premise or in the cloud," stated Stephen Sadler, Chairman and CEO of Enghouse. "Visionutveckling strengthens our existing foot print in Scandinavia, enhances our product offering to the SME sector (with the Vision 80/20 packaged solutions) and to telecom Network Operators (with the Saas based high-availability product)."
"We are excited to be joining Enghouse - a recognized leader in the contact center space in Scandinavia and elsewhere," stated Tomas Andre, CEO of Visionutveckling. "Collectively we will have a significant presence to create even greater benefits to our existing and new customers."
About Enghouse Systems Limited
Enghouse Systems Limited is a leading global provider of enterprise software solutions serving a variety of vertical markets. Its strategy is to build a large diverse enterprise software company through strategic acquisitions and managed growth. Enghouse shares are listed on the Toronto Stock Exchange (TSX:ESL). Further information about Enghouse may be obtained from its web site at www.enghouse.com.
About Visionutveckling AB
Visionutveckling is a leading provider of Attendant and Contact Center solutions in the Scandinavian market through its flagship product the Vision 80/20 with over 1,300 installations. The company operates out of offices in Sweden, Norway and Denmark, and sells its products through a well established reseller distribution channel. For more information, please visit www.visionutveckling.se.
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Enghouse Systems Limited
Chairman & CEO