Australian software house Technology One is hitting the acquisition trail in a bid to add more scope to its flagship financial management product.
Managing director Adrian Di Marco is looking to purchase a company with specialist distribution and manufacturing software, and is also scouting for possible partners in the payroll and personnel arenas.
"Australian software companies are currently undervalued and yet some are producing high-quality products," Di Marco said. "We are interested in either acquiring a licence for their technology or obtaining the business in total."
Technology One is an $18 million company, with more than 200 clients Australia-wide. The company targets customers in the $30 million to $700 million revenue bracket. Officials claim the company has already signed more than 60 new customers this year.
But Technology One is not resting on its laurels. Di Marco told ARN the partnership and acquisition strategy is part of a four-pronged initiative designed to augment the company's Finance One mid-range financials package and propel its future growth.
Technology One is also developing its own range of vertical market products, including a new large-scale student administration system for universities and higher education institutions called Student One.
The fourth element of Technology One's strategy will be to move into overseas markets, with a new office to be opened in the UK during the next 12 months, Di Marco claims.
Technology One Tel (07) 3870 2044