January 13, 2014

Cígler Software completed the acquisition of Altus software

Cígler Software, producer of information systems operating on Czech, Slovak and Hungarian markets, today bought a 100% share in the traditional Czech supplier of ERP systems, Altus Software. Through this acquisition Cígler Software significantly strengthens its position on the Czech market of ERP system suppliers for medium-sized and large companies and expands its portfolio of offered solutions for example by modules for production control.

The aim of the acquisition was to expand the portfolio of products, especially of know-how, as well as to increase the customer base and speed up the development of new solutions thanks to shared sources of both development teams. Cígler Software is a leader on the Czech market with accounting software for small businesses and by increasing the number of customers it is now also one of the largest suppliers of ERP systems for medium-sized and large companies.

“Our company has always been a leading innovator and the Money S4 and Money S5 information systems are without a doubt one of the most advanced products on the market,” said Martin Cígler, Chairman of the Board of Directors of Cígler Software. “Altus Software has operated on the market with ERP systems since 1996 and has managed to build a tradition and develop top-quality software combining high functionality and user-friendly interface. Furthermore, our customers will also greatly benefit from products that they have not been offered so far – such as the Altus Production module or the Altus Portal solution for electronic document management.”

“The cooperation of our two companies started already before the acquisition and the first results are already visible – for example, accounting companies using Altus Vario may use the cloud-based invoicing service iDoklad under favorable conditions,” adds Miloš Novák, business manager of Altus Software. “The offered product series – Altus Vario, all versions of Money and iDoklad – do not change; on the other hand, the users will be offered new functions. The cooperation of teams of both companies will allow us to focus on what we know best. The customers will be provided with better solutions for less money.”

“Consolidation of resources of developer teams and utilization of know-how and free capacities allow us to start working on projects for which we previously lacked the necessary resources or experience. Our users can already look forward to new Vario 14 with a brand new, easier and more user-friendly interface,” commented Štěpán Pokorný, executive agent and CEO of Altus Software, on their vision for the future.

Cígler Software, a. s., with over 120,000 customers and a wide portfolio of products, is one of the leaders on the Czech and Slovak market with accounting and information systems. Its most important products include ERP systems Money S4 and S5, accounting software Money S3 and cloud-based invoicing service iDoklad, which gained over 38,000 new users within the last two years. In addition, it also produces cash register systems.

Altus software s.r.o. is a significant Czech ERP producer. It develops and supplies the Altus Vario system focused on medium-sized companies. Altus Vario (www.vario.cz) covers all company agendas, ranging from production control, through purchase and sale up to accounting, payroll and HR management. It is used by almost 2,000 companies, who especially appreciate its reliability and customizability.

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