Aussie SaaS company TechnologyOne is set to buy UK-based higher education software provider Scientia for around £12 million.
TechnologyOne said the acquisition would strengthen its offering in the higher education market, considering that 75 percent of institutions in Australia and 50 per cent in the UK currently use Scientia’s products.
The “likely consideration” for the acquisition will be £12 million and includes an initial payment of £6 million.
TechnologyOne CEO Edward Chung said the acquisition will accelerate TechnologyOne’s growth and competitive position in the UK as well as having significant benefits in the Australian higher education market.
