Geac buys part of French IT services company

Geac Computer Corp. Ltd., a Canadian vendor of enterprise software and systems, has agreed to acquire part of French IT services company EBC Informatique SA, Geac said Thursday.

Geac has offered 2.45 million euros (CDN$3.7 million) for the EBC unit, which offers services around IBM Corp.’s eServer iSeries hardware to about 420 customers, mainly in the financial services area. The unit will immediately be integrated with Geac’s Anael Solutions division in France, and the financial transaction is set to close Sept. 13, Geac, of Markham, Ontario, said in a statement.

The acquisition, Geac’s second this week, is to boost the company’s presence on France’s financial management products market, the company said.

On Monday, Geac announced the takeover of Extensity Inc., an Emeryville, California, maker of software for procurement and for managing employee services such as expense reports, time cards and travel planning.

Geac is not on a buying spree, a spokesman said-the Extensity acquisition was its first since 1999. Geac is ready for a period of growth after it went through restructuring in the fourth quarter of last year, he said.