TechnologyOne, an Australian SaaS enterprise, has agreed to acquire U.K.-based higher education software provider Scientia for £12 million/$16.6 million in cash.
TechnologyOne claims to have 75% of higher education institutions in Australia using its software, while Scientia claims 50% market share in the U.K.
The acquisition includes an initial payment of £6 million and further payments.
Adrian Di Marco, TechnologyOne founder and executive chairman said:
This is our company’s first international acquisition and it demonstrates our deep commitment to serving the higher education sector and the U.K. market. The unique IP and market-leading functionality of Scientia’s product supports our vision of delivering enterprise software that is incredibly easy to use.
Commenting, Michelle Gillespie, registrar and director of Student Administration and Library Services at Swinburne University of Technology said: “The one thing that students care most about is their timetable. Being able to fully integrate a schedule into the full student experience is very important, and an exciting step for those universities — like Swinburne — that use TechnologyOne’s student management system.”