Due diligence
TechnologyOne has never made a big acquisition. Now it wants to
Private equity could reshape the competitive landscape for the Brisbane-based enterprise software group in the UK, where it has been keenly eyeing deals.
Tess BennettTechnology reporterOver the last 36 years, TechnologyOne has made just nine acquisitions. The most the Brisbane-headquartered enterprise software group has paid is about $20 million. Now, it is looking for bigger – much bigger – deals.
This month, the company disclosed it had taken a close look at an unnamed, publicly listed higher education software group in the United Kingdom. The purchase price would have been $300 million, and TechnologyOne dusted $2 million on due diligence. Eventually, the company determined that “the potential acquisition did not meet our criteria”.
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