TechnologyOne, one of Australia’s largest enterprise Software as a Service companies, on Friday announced it would acquire Scientia Resource Management Limited, a United Kingdom company servicing the higher education sector.
TNE noted that the acquisition forms part of a strategic focus to deliver the deepest functionality for Higher Education and accelerate the company's growth and competitive position in the UK as well as have significant benefits in the Australian Higher Education market.
Scientia’s market-leading product Syllabus Plus provides advanced academic timetabling and resource scheduling. Their products provide mission-critical software for over 150 leading Universities across the United Kingdom, and Australia including the University of St Andrews, University of Exeter, Monash University and the University of Queensland.
The acquisition further expands TNE’s Global SaaS ERP solution for Higher Education. The integration of the Scientia’s advanced academic timetabling and resource scheduling capabilities, combined with TNE’s Student Management, HR & Payroll, Enterprise Asset Management and Finance capabilities, should provide smarter decision-making eliminating underutilisation of space and resources that is paramount for Higher Education across the globe in a post-covid world.
The likely consideration will be GB£12 million and includes an initial payment of £6m and further payments, based on achieving progressive earnouts out to FY23. Total consideration will be in the form of cash payments funded from internal sources. The acquisition is earnings neutral for FY21.
Adrian Di Marco the company’s founder and Executive Chairman said “This is our first international acquisition and demonstrates our deep commitment to both Higher Education and the UK market. The unique IP and market leading functionality of Syllabus Plus supports our vision of delivering enterprise software that is incredibly easy to use and that substantially enhances our customers’ experience in the Higher Education sector. We are excited about the opportunities this will bring to both our UK and Australian customers in the coming years.”