Talentia Software acquires Swiss company Addedo
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.
Swiss, Zug-based Addedo is an IT consultancy firm specialising 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 publicly 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, 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 complementary and help realise 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.
Viviane Chaine-Ribeiro, President of Talentia Software: “This acquisition is a new critical step in our external growth strategy. It will further reinforce our market lead on the fast growing CPM market and accelerate our growth in countries such as Switzerland and Germany. It will also enable us to set foot in North America where Addedo recently opened an office. We are thrilled to join forces with Addedo, who achieved sustained growth over the years to reach a market-leading position today. Talentia Software will greatly benefit from Addedo’s insights and proven Financial Performance expertise, and in turn, we will be able to provide additional value to our clients and staff”.
Michael Kempter, President of Addedo: “We are pleased to join Talentia Software and merge our skills and capability. We share common values, including the commitment to delivering the highest quality of service to our clients. We will benefit from each other’s expertise, expand our current product portfolio and combine forces for the benefits of our client’s Financial Performance”.