Horizon Technology Group swoops in on WBT Systems
Acquisition marks Irish firm's third buy of 2006 and bolsters its enterprise software capabilities
Irish giant Horizon Technology Group has strengthened its enterprise software capabilities after acquiring software group WBT Systems.
Dublin-based WBT has offices in the US, Canada, Germany and the Netherlands. Horizon made an initial cash payment for the firm of 1.15m euros.
WBT provides learning management software for the enterprise applications market. Paul Dooley, chief executive of WBT, will remain at the company after the acquisition.
The WBT buy-out maintains Horizon’s acquisitive approach to the market after it snapped up Irish SAP consulting partner Enterprise Process Consulting in April and UK distributor equIP (CRN, 2 February).
Gary Coburn, chief executive at Horizon, said: “This bolt-on acquisition is consistent with our strategy to sharpen Horizon’s focus on the enterprise solutions market. Consulting services and maintenance contracts account for a significant portion of WBT’s revenue and will add a revenue stream to our services portfolio.
“The acquisition of WBT will also strengthen Horizon’s enterprise consulting business and broaden the solution sets that it can provide to the corporate market.”
Samad Masood, analyst at Ovum, said: “This purchase is very much in line with Horizon’s strategy to expand out of its low margin and declining reseller business by adding on more services business.
“WBT Systems comes to Horizon at a very reasonable price and should be a good fit, given that it is also Dublin-based. However, it will be interesting to see what Horizon chooses to do with WBT’s offices in the US, Canada, Germany and Netherlands, because we don’t believe Horizon currently has a presence in these areas.”
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