Israeli company Priority Software, which develops enterprise resource planning (ERP) software, today announced that it had acquired Belgium's Optimize Group. The price of the deal was not announced, but sources close to the company estimated it at several million euros.
Optimize develops and markets ERP solutions to 1,000 organizational customers in various areas. The company's various divisions specialize in developing ERP solutions for specific sectors, such as metal companies, beverages companies, and organizations providing professional services. Priority Software CEO Andres Richter said that his company would use its acquisition "to accelerate growth in Western Europe, as well as improving support for Priority Software's growing customer base in the area."
"The global ERP market is growing and changing in what customers are looking for in both technology and the operations and commercial model, for example open systems and cloud systems. In this sense, the product that we have developed is very suitable for the dynamic market, and enables us to offer customers an attractive alternative," Richter says. In addition to expanding to other markets, Priority Software has also been working in recent years on the technological development of its platform and installing capabilities and full support in a cloud and mobile environment.
The new acquisition is Priority Software' fourth in recent years. All are part of the company's strategy for expanding its international activity, together with its work in Israel. Some of these acquisitions were US software company Acclivity, the ERP activity of Israeli company Monitin, and US ERP consultation services company PerformaApps. Priority Software reports that its acquisitions tripled its revenue, but did not give figures for its revenue. Since 2017, Priority Software expanded from fewer than 10,000 customers to 75,000 customers daily.
Priority currently has 190 employees: 120 in Israel, 55 in the US, and 15 in Europe. Optimize will retain its structure as an independent unit and all 35 of its employees.
Published by Globes, Israel business news - en.globes.co.il - on March 19, 2019
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