Swiss IT consulting firm Addedo acquired by French software group

17 January 2018 Authored by Consultancy.eu

Swiss IT consulting firm Addedo has been acquired by Talentia Software, a pan-European provider of HR and financial performance enterprise software. Twenty five employees join in Germany, Switzerland and Canada. 

The acquisition is part of Talentia Software’s growth strategy, and represents a “critical step” in the firm’s ambition to extend its portfolio in the consulting landscape, explained Viviane Chaine-Ribeiro, President of the software group. 

Founded in 1988, Paris-headquartered Talentia Software today has offices in seven European countries: France, the UK, Italy, Spain, Portugal and Greece. Its two main product ranges – Talentia HCM (focused on human capital management solutions) and Talentia CPM (focused on financial consolidation, reporting and budgeting) – are used by more than 3,600 customers in over 30 countries, ranging from SMEs to large international organisations.

The company it picked up, Zug-based Addedo, is an IT consultancy firm specialised in Corporate Performance Management (CPM) services and applications. Addedo offers both consulting services focused on the implementation of CPM software and acts as an independent licensed reseller for CPM software solutions (e.g. IBM Cognos and Longview), offering maintenance and support services to its clients.

 Addedo and Talentia Software

“The acquisition boosts our position in the fast growing CPM market and accelerates our growth in countries such as Switzerland and Germany,” said Chaine-Ribeiro. Addedo has a client roster of around 200 organsiations, including many publically listed corporations, of which the large majority are based in Europe’s German-speaking region. The move will in addition provide Talentia Software access to the North American market – the globe’s largest industry for CPM services and solutions. Addedo recently opened an office in Canada, from which it also serves the US."  

Further, “Talentia Software will greatly benefit from Addedo’s insights and proven Financial Performance expertise, and in turn, we will be able to provide additional value to our clients and staff,” remarked Chaine-Ribeiro. 

As part of the integration, all 25 employees of Addedo will join Talentia Software, with the company retaining its own brand in the market. Michael Kempter, President of Addedo, will remain President and has been tasked with leading Talentia Software’s operations in the DACH region (Germany, Austria and Switzerland) and in North America. His new role sees him ascend to the Executive Board of Talentia Software, reporting directly to Viviane Chaine-Ribeiro.

Speaking about the deal, Kempter said; “We are pleased to join Talentia Software and merge our skills and capability. We share common values, including the commitment to delivering the highest quality of service to our clients. We will benefit from each other’s expertise, expand our current product portfolio and combine forces for the benefits of our client’s financial performance.” 

The deal, of which financial details have not been disclosed, adds around €11 million in revenue to Talentia Software’s income base, which is estimated to be in the order of €55 million.

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