TechnologyOne, an Australian SaaS enterprise, has agreed to acquire UK-based higher education scheduling software provider Scientia for $16.6 million.
The acquisition includes an initial cash payment of $6 million, with further payments based on Scientia achieving progressive earnouts until the financial year 2023.
The deal is TechnologyOne’s first international acquisition and considerably boosts its market share, particularly in the UK. The company already claims to provide its software solutions to 75 per cent of Australian higher education institutions, with Scientia reportedly having around a 50 per cent market share in the UK.
According to the CEO, Edward Chung, the acquisition would strengthen the Brisbane-based company’s expertise in the education sector.
TechnologyOne is Software as a Service (SaaS) based ERP offerings are employed by over 1000 leading corporates, government and other statutory authorities that includes all the standard features like asset management, BI, HR and payroll, financials, research management and supply chain etc.
Started in 1987 by Adrian Di Marco, for over 30 years, the company has been providing the customers with enterprise software that evolves and adapts to new and emerging technologies, allowing the customers to focus on their business and not technology.
Speaking about the acquisition, Founder and Executive Chairman Adrian Di Marco said,
"This is our company’s first international acquisition and it demonstrates our deep commitment to serving the higher education sector and the UK market."
Di Marco added, "The unique IP and market-leading functionality of Scientia’s product support our vision of delivering enterprise software that is incredibly easy to use. We are excited about the opportunities this will bring to both our UK and Australian customers in the coming years."
Edward Chung, Chief Executive Officer, TechnologyOne has said,
"This acquisition forms part of our strategic focus to deliver the deepest functionality for Higher Education and it will accelerate our growth and competitive position in the UK as well as have significant benefits in the Australian Higher Education market."
He added "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 our Global SaaS ERP solution for Higher Education. The integration of the Scientia’s advanced academic timetabling and resource scheduling capabilities, combined with our market leading Student Management, HR & Payroll, Enterprise Asset Management and Finance capabilities, will provide smarter decision-making eliminating underutilisation of space and resources that is paramount for Higher Education across the globe in a post-COVID world", Chung further said.
Cambridge-based edtech company Scientia was founded in 1989 by Shaji C.K, provides resource scheduling, optimisation and university timetabling solutions to higher education institutes across the world. Their range of products includes web-based room booking, exam scheduler, staff workload planner, space management, project management etc.
The company has an enviable reputation as the global market leader in timetabling and exam scheduling software. Many of the world's top universities trust Scientia's software including Imperial College, University of Cambridge, University of Oxford, School of Oriental and African Studies, London and the University of Edinburgh.