edotech Acquires Cominformatic AG In £6.5million Deal
5th December 2002
Third acquisition since MBO spurs European expansion
edotech Limited, specialists in outsourced customer communications, has acquired Cominformatic AG, a subsidiary of Anacomp, Inc., the US based provider of information outsourcing, maintenance support and imaging and print solutions.
Based in Zurich, Switzerland, Cominformatic also has offices in Geneva and the Austrian capital, Vienna. This £6.5 million acquisition includes not only the three central European offices, but also all 110 staff members, customers and key intellectual property.
Sam Ferguson, managing director of edotech stated, “We are very excited at the prospect of creating a pan-European organisation and this announcement is of strategic importance to edotech. With business process outsourcing continuing to be one of the few growth areas in this economic climate, it is imperative that edotech grows from a position of strength building on its core business; enhance its portfolio of services, as well as seek further acquisitions.”
Cominformatic has 25 years experience in the document management industry and a growing customer base within the financial and banking sector, providing edotech with an established and knowledgeable partner with which to expand onto the continent, with existing offices in Switzerland and Austria.
Cominformatic AG, part of the Anacomp group of companies since 1997, has been a FileNet reseller in both Austria and Switzerland for a number of years. Of more importance to edotech, however, are its two key e-presentment products – Archea and Axxento.
Six months ago, edotech purchased Online Bills Limited, along with its suite of software applications that meet the challenge of delivering end-to-end e-billing services for the business sector.
“This initial move enabled us to offer our customers a range of functions from part payments and the ability to view live transactions online, to customer support and CRM capabilities,” added Ferguson. “By adding both Archea and Axxento to our existing portfolio, we are now able to offer our customers front office support for e-billing applications.”
“The software applications we now have at our disposal greatly enhance this, enabling us to offer a truly ‘Paper to Glass’ solution for businesses migrating to e-solutions.”
Andrew Frome, financial director of edotech, stated, “Following its MBO in May 2000, edotech has been successfully competing in the business process outsourcing sector. We have the technology to produce and present documents across a wide variety of delivery channels, including the Internet. The company has recognised that it is in the latter category that demand is increasing, and over the past two years we have embarked on a programme of acquisitions to not only strengthen our existing product portfolio, but also drive our growth.”
Since 2000, the company has seen its turnover leap from £20 million to an estimated £50 million by the end of this financial year