Software business snaps up rival
LEEDS-BASED specialist software business Cascade HR has acquired a Southern rival.
The deal, for an undisclosed sum, will increase Cascade’s reach in the HR software market.
Cascade has focused on larger clients with up to 10,000 employees while Hampshire-based Octopus has been involved in the growth of the micro and SME business segment for 12 years.
With 350 cloud customers throughout the UK, Octopus will increase Cascade’s client base to more than 1,200 private sector and not-for-profit organisations.
Cascade’s chief executive Oliver Shaw said: “This extension of our portfolio cements both Cascade and IRIS as leading technology providers within the UK. Achieving this position has long been a part of our plan, but being able to serve different segments of the market, and serve them equally well, has proven crucial to this.
“Like Cascade, Octopus has experienced consistently impressive double-digit revenue growth per annum, due to the team’s commitment to outstanding technological capabilities, high levels of service and investment in the cloud. This was therefore an attractive investment for us, and one that will accelerate the growth of both solutions.”
The announcement comes less than a month after £11m-turnover Cascade moved to its 16,000 sq ft premises on the fringe of Leeds city centre, in what was the largest out-of-town commercial property deal of 2015.
Cascade is part of the IRIS Software Group.
