The AI-driven enterprise resource planning group, Aptean, Inc., has made a significant acquisition in the software industry, securing the Yorkshire-based company, SSG Insight.
This acquisition marks a strategic expansion for Aptean, leveraging SSG Insight’s robust expertise in enterprise asset management solutions to enhance their global footprint.
Aptean’s Strategic Move
Aptean, Inc., renowned for its innovative enterprise resource planning solutions, has acquired SSG Insight, a well-established software company based in Yorkshire. SSG Insight, founded in 1983, boasts over 40 years of experience in delivering critical asset management solutions across various regions, including the United Kingdom, Europe, Australia, and North America.
Duane George, President of EMEA and APAC at Aptean, expressed enthusiasm about the acquisition, highlighting SSG’s proven track record and industry-leading Agility product suite, which adeptly manages complex enterprise asset challenges.
Strengthening Enterprise Asset Management
The Agility product suite offered by SSG Insight is pivotal in addressing complex enterprise asset management challenges. This suite is supported by a team of seasoned industry experts, ensuring robust and reliable solutions.
This acquisition is expected to significantly enhance Aptean’s capabilities, providing them with sophisticated tools to manage intricate asset management needs efficiently.
Exciting Future Prospects
“We are delighted to join a global organisation like Aptean, where together we can continue to develop and deliver innovative solutions,” said Mike Edwards, CEO of SSG.
He added that this combination of businesses heralds exciting growth opportunities for SSG, given the shared commitment to long-term product and customer success.
Joining Aptean opens new avenues for SSG’s customers and team, promising significant growth and development opportunities.
Financial Insights and Market Impact
While financial details of the acquisition remain undisclosed, SSG Insight’s most recent financial report highlighted a turnover of £5.9 million for the year ending 31st December, showing a modest increase from the previous year. Their profit before tax was reported at £354,000.
The acquisition not only underscores the potential for regional deals but also reflects the continued attractiveness of UK companies to overseas buyers. This extends opportunities to both trade acquirers and private equity-backed businesses seeking high-growth targets.
Industry Reactions
Jason Whitworth from BDO’s Northern Corporate Finance team commented on the sale, calling it an exemplary regional deal that demonstrates current market opportunities. He highlighted the attractiveness of UK targets to international buyers.
Whitworth also noted that this deal reinforces BDO’s strong position in the technology sector, recognising the value in connecting regional expertise with global enterprises.
The acquisition will effectively extend Aptean’s geographical presence, especially in the realm of enterprise asset management, offering exciting growth prospects for SSG.
Implications for SSG and Aptean
The acquisition is poised to bring substantial benefits to both SSG and Aptean. For Aptean, it means an expanded geographical footprint and enhanced capabilities in enterprise asset management. For SSG, it translates to increased resources and opportunities for innovation.
This strategic move also aligns with Aptean’s broader goals of reinforcing its market position and expanding its service offerings.
Overall, this acquisition signifies a positive trajectory for both companies, promising collaborative growth and development.
Conclusion
The acquisition of SSG Insight by Aptean represents a significant development in the software industry.
It underscores the strategic importance of expanding capabilities and leveraging expertise to address complex enterprise needs, promising robust growth and innovation in the coming years.
The acquisition of SSG Insight by Aptean signifies a crucial expansion in the enterprise asset management sector.
It exemplifies the strategic benefits of combining regional expertise with global capabilities, heralding a promising future for both companies.
