BrazilExact acquires Belgian HR cloud software provider Officient
Dutch software company Exact has acquired Officient, a Belgian start-up that has developed a cloud platform for personnel services.
Commenting on the deal, Exact CEO Phill Robinson said: “We’re seeing growing demand from customers for a solution that meets all of their human resource and people administration needs. With Officient, we have found the perfect partner to meet that need.”
Officient provides software that allows the human resources function to organise various aspects of personnel policy, such as rewards, resourcing contracts, time off, vehicle fleet, assessments and employee data. Since launching three years ago, Officient has onboarded more than 4,000 customers, who combined employ some 35,000 employees.
For Exact, the move enables it to extend its traditional accounting software solutions into the related human capital domein. “This allows us to deliver a broader and more integrated software offering,” said Robinson.
The deal was advised on by Alvarez & Marsal, which provided financial due diligence services, delivered by Age Lindenbergh, Shane Wilson and Ton Kremer. Meanwhile, Rowdy Schouten and Alix Stockman from JSA Tax and Finvision provided tax advisory services.
The move is Exact’s second deal in weeks. The software vendor, which has more than 1,400 employees serving over 500,000 customers in mainly the Benelux, recently acquired the Dutch arm of Unit4, another large vendor of ERP and software systems. Meanwhile, in Belgium, it is the second deal in a year – in December 2019, Exact purchased Belgian accounting software WinBooks.
Backed by American private equity giant KKR, which took a majority stake in the Dutch company for €1.5 billion in February 2019, Exact aims to grow into a €500 million company in the coming years.
For Officient, joining the larger group will “allow us to innovate and grow at a faster pace” said co-founder Michiel Bearelle. “Exact shares our ambition to become the ‘natural choice’ provider of HR software in the Benelux.”
