Software group on cloud nine after new acquisition

Birmingham-based software and services company Advanced has grown its portfolio with a new acquisiton.

The firm, which officially opened its new offices at The Mailbox earlier this year, has acquired Hudman, a developers of CentralERP, a cloud-based software-as-a-service (SaaS) Enterprise Resource Planning (ERP) system.

Advanced said the acquisition demonstrated its commitment to a cloud-first strategy that aimed to deliver a suite of cloud-based SaaS solutions to market, as well as deepen its reach into the SME business sector.

Cwmbran-based Hudman had attracted investment from the Wales Technology Seed Fund and the deal represents the fund’s first exit and comes less than a year after the fund’s original investment.

The firm has an established track record with a small yet proven customer base across a number of industries. Its cloud ERP solution covers the entire business process, from accounts and payroll, to operations, stock, customers and supply chain.

Gordon Wilson, CEO at Advanced, said: “This acquisition represents the first public step in the company’s next chapter. Our business transformation over the last 12-18 months means we are well placed to focus on accelerating our growth, and extending our delivery of solutions in the cloud representing the single biggest opportunity for us and our customers.

“Cloud technology is fast becoming the right choice for many organisations to drive efficiencies, manage costs, innovate and grow. It’s important we help them embrace the cloud to secure this competitive edge.”

David James, CEO at Hudman Solutions, said the deal represented a significant step forward for the business, both in terms of the breadth and development of its offering.

“We believe the strength of our solution, and the value it offers to customers, will only increase by being part of the Advanced portfolio.  Our cloud first approach complements Advanced’s strategy and its ambitious growth plans,” he said.

Mr James, who was initially the angel investor in the company and who subsequently became the managing director, will continue to lead the business, which will fall under the Advanced brand. The full Hudman team will be incorporated into Advanced.

The terms of the deal have not been disclosed.

Advanced is backed by venture capitalist, Vista Equity Partners.