Geac buys part of French IT services company

Canadian enterprise software vendor Geac Computer has agreed to acquire part of French IT services company EBC Informatique.

Canadian enterprise software vendor Geac Computer has agreed to acquire part of French IT services company EBC Informatique.

Geac has offered €2.45m (£1.55m) for the EBC unit, which offers services based around IBM's eServer iSeries hardware to about 420 customers, mainly in financial services. The unit will immediately be integrated with Geac's Anael Solutions division in France and the financial transaction is set to be completed on 13 September.

The acquisition, Geac's second this week, is to raise the company's profile in France's financial management products market, the company said.

Earlier this week Geac announced the takeover of Extensity, a US vendor of software for procurement and for managing employee services such as expense reports, time cards and travel planning.

Geac is not on a buying spree, a spokesman said, adding that the Extensity acquisition was its first since 1999. Geac is ready for a period of growth after it went through restructuring in the fourth quarter of last year, he said.

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