Unit4 Changes Hands and Readies for Global Push
ERP provider Unit4 will soon be under new ownership after private equity group TA Associates agreed a deal with current owner Advent to buy out its majority stake.
Advent, which paid approximately €1.1bn for Unit4 back in 2014, will now sell for a sum in excess of $2bn. The acquisition is expected to be completed by early summer 2021, subject to regulatory approvals.
Backed by new investors, Unit4 hopes to further accelerate its growth under Mike Ettling's leadership, who joined as CEO in 2019.
Unit4 caters to what it calls "people-centric" industries, including professional services, public sector, non-profit and higher education. It is here that the provider will invest and accelerate its growth through its recently launched cloud-native ERPx platform. Additionally, a strong focus will be given to the expansion of Unit4's global partner network
The takeover is positive news for Unit4, with Ettling having previously talked about the need to potentially secure new backing to take it to the next level. The ERPx platform gives it a good launchpad to expand its well-established base in the European mid-market and build on its existing bridgehead in North America.
Many of the sectors that Unit4 targets – from professional services through to higher education – are undergoing a huge shift as they rebuild for the post-pandemic environment. With TA Associates' added financial muscle behind it, Unit4 will have the potential to rev up its sales engine to reach many more prospects and flesh out its partnership ecosystem to help it engage with the right stakeholder landscape.