UXC Acquires Agave and Doubles Business Objects Capability
Acquisition strengthens lead position in performance management solutions
6 February 2007
Australian technology services company, UXC (ASX: UXC) today finalised the purchase of Agave, a leading provider of business intelligence and reporting solutions in the Business Objects stack.
Agave will merge with e.bi, part of the recently launched UXC Performance Management business. e.bi is the leading provider of budgeting, forecasting and planning solutions for Business Objects.
The initial acquisition will be payable in a combination of cash and shares on a deferred basis, and will be immediately earnings per share positive.
“Our customers are increasingly demanding specialist and independent advice to implement effective performance management solutions,” said Stephen Mackley, CEO of UXC Performance Management.
“The acquisition of Agave doubles e.bi’s capability immediately and provides a platform for rapid growth,” he said. “Agave’s Sydney base strengthens UXC Performance Management’s presence and opportunity in that market.”
“It clearly positions UXC Performance Management as the only independent Australian partner that can implement and support the full range of Business Objects solutions as well as Cognos and SAS technology,” he said.
UXC Strengthens Performance Management Team
Agave CEO and co-founder John Dickson, has more than 17 years experience in performance management solutions in Europe, the US and Asia Pacific. Dickson will continue in the business as CEO of e.bi. Agave’s team of eight specialist consultants will join UXC to create a team of 20 in the Business Objects space and 50 across UXC Performance Management.
“The partnership between Agave and UXC strengthens our quality team that has deep experience in business intelligence and will enhance UXC’s depth and breadth across all major platforms,” said Dickson. “Clients will benefit from unrivalled choice and greater capacity to meet their performance management needs,” he said.
UXC Positioned for Growth
According to Rajeev Mitroo, Director of Channels and Alliances of Business Objects, “the marriage of two of our solution providers in e.bi and Agave represents a significant benefit to the market, both in terms of value proposition and economies of scale. e.bi’s status as one of our leading partners in our Planning solution combined with Agave’s proven track record in our BI and Enterprise Information Management solutions delivers a single organisation with the ability to sell and implement the entire Business Objects solution stack.”
“The new combined entity will enjoy the financial strength of an Australian top 300 company providing it with the economy of scale for growth within Australia’ s two largest markets,” he said.
The launch supports UXC’s business strategy to consolidate existing businesses and acquisitions to build market leading positions in areas of existing expertise.
“The acquisition of Agave strengthens our offering and skill base. We are well on track to achieve UXC Performance Management’s goal to be Australia’s leading independent provider of solutions in this rapidly growing market,” said Mackley.