A Markham, Ont., company that makes network, call centre, and transportation software solutions is expanding into Scandinavia though an acquisition, part of a global expansion move.
Enghouse Systems Ltd. said Thursday it has bought Stockholm-based VVisionutveckling AB for approximately $10.9 million, subject to certain price adjustments. Vision AB's annual revenues for fiscal 2012 were approximately $11.5 million.
"The acquisition is a great fit as both Enghouse and Vision have deep industry expertise and are committed to building long-term customer relationships, offering complementary solutions on-premise or in the cloud," Enghouse chair and CEO
Stephen Sadler said in a news release.
"Visionutveckling strengthens our existing foot print in Scandinavia, enhances our product offering to the SME sector (with the Vision 80/20 packaged solutions) and to telecom network operators (with the Saas based high-availability product)."
"We are excited to be joining Enghouse - a recognized leader in the contact center space in Scandinavia and elsewhere,"
Tomas Andre, CEO of Visionutveckling said in the release. "Collectively we will have a significant presence to create even greater benefits to our existing and new customers.
Vision's Attendant and Contact Center software solutions have been installed in over 1,300 customer sites ranging from small to large enterprises in both the public and private sectors, the companies said. Vision's 80/20 Contact Center is available as either a cloud or on-premise solution.
Founded in 2002, Vision has 88 employees and offices in Sweden, Norway and Denmark.
It is the third acquisition this year by publicly-traded Enghouse [
TSX: ESL]. In March it bought CustomCall Data Systems in. of Madison, Wisc., which makes billing, provisioning and operation support workflow solutions to telecommunications service providers. In May it inked a $30 million deal to buy Zeacom Group Ltd. of New Zealand, which makes
contact centre and business process automation solutions for SMBs sold in many countries.
In September, Enghouse said it recorded net income of $4.6 million on revenue of $35.4 million in its third quarter, which ended July 31.