Talentia Software, leading provider of HR and Financial Performance enterprise software, accelerates its international development through the acquisition of Swiss company Addedo. This acquisition is an integral part of Talentia Software’s strategy to extend its lead in Corporate Performance Management (CPM) software and become a key European player on this market.
Switzerland, Zug-based Addedo is an IT consultancy firm specialized in Corporate Performance Management (CPM) services and applications. Addedo consulting services focus on the implementation of CPM software, covering key functions such as financial consolidation, budgeting, planning, reporting and analytics. Addedo also acts as an independent licensed reseller for market leading CPM software solutions, offering maintenance and support services to its clients. With close to 11 Million euros in sales, about 25 employees and 200 clients –among which many publically listed corporations-, Addedo has offices in Switzerland, Germany and Canada.
With more than 55 Million euros in sales (2016), Talentia Software has operations in France, the UK, Italy, Spain, Portugal and Greece. Consistent with the company’s acquisition strategy, this external growth opportunity enables Talentia Software to establish a physical presence and expand operations in the countries served by Addedo. This acquisition will also greatly enhance the activity and expertise of its Financial Performance product line.
Addedo is a licensed reseller for IBM Cognos (ESA Partner) and Longview, providing implementation, maintenance and support services to its clients. As part of this acquisition, Addedo will keep operating under its own brand, leveraging its strong partnerships and awareness to expand on its markets. This acquisition will also leverage a natural complementarity and help realize strong synergies between Talentia Software, a software provider and Addedo, an IT consulting, deployment and support services firm.
Michael Kempter will remain President of Addedo to lead Talentia Software’s operations in the DACH region (Germany Austria Switzerland) and the starting operations in North America, with the full support of his current management team. He is joining the Executive Board of Talentia Software and he will report directly to Viviane Chaine-Ribeiro.