Product category:
Printing Pre-Press Systems and Materials (Repro, Platemakers, CTP, Workflow, Document Management, Design Software, etc.)
News Release from: Version One Limited
Edited by the Printingtalk Editorial
Team on 05 April 2007
Document Management Software Firm
Acquired
Cedar Open Accounts (COA) a UK business software vendor, has acquired Version One, the UK document management and imaging software author.
Cedar Open Accounts (COA) a UK business software vendor, has acquired Version One, the UK document management and imaging software author The acquisition, COA's seventh in four years, is claimed to give the company leadership in the UK document management and imaging market, a high growth area due to increasing business demand for improved efficiency, process automation and a reduced carbon footprint
This article was originally published on Printingtalk on 29 Jan 2007 at 8.00am (UK)
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Following the acquisition, COA's customer base will exceed 3,000 UK organisations and its total employees will be more than 450 people.
The company said that contrary to the software market's trend of frequently making acquisitions to secure critical mass alone, COA selected Version One because its software adds essential functional capabilities demanded by its customers.
Those capabilities enable customers to electronically design, deliver, store, retrieve and authorise business documents, such as invoices and purchase orders, directly from their core finance systems.
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Mark Thompson, managing director of COA, said: "This acquisition is fantastic news for existing and prospective customers and partners of both companies.
They will now benefit from Version One being part of a larger organisation with significant development resources and a major market presence in the UK." COA and Version One have been partners since 1997 and the companies already have over 250 joint customers throughout the UK, including Specsavers, Aer Lingus and The Forestry Commission.
Karen Dicks, director of finance at Specsavers, said: "This acquisition is good news for COA and Version One customers.
Specsavers has vastly improved financial processes using a system based on integrated COA and Version One software.
This is a natural choice for businesses who want to drive greater efficiencies through an advanced financial management system." Tony Bray, director of Version One, commented: "Both companies have enjoyed a close partnership for over 10 years, making the acquisition of Version One by COA the next logical step.
Our customers and partners should be reassured by COA's solid reputation and in-depth understanding of the financial software market.
The company is ideally positioned to drive Version One to even greater success." Version One said it will continue to operate from its headquarters in Cheshire.
It will also continue to support existing customers and resellers of Version One technology and sell its products to all types of businesses worldwide.
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