Lawson to Acquire Account4
Page 1 of 1
Lawson Software expanded its vertical focus in Professional Services Automation (PSA) with an agreement to acquire Newton, Mass.-based PSA software vendor Account4 Inc.
Terms of the deal were not disclosed. The company expects the transaction to close in July.
"This acquisition supports Lawson's strategy to acquire businesses with technologies and products that enhance and expand our current offerings," said Jay Coughlan, Lawson president and CEO. "This is a good strategic fit. Account4's open, Web-based solution is compatible with our architecture, and it addresses the critical business needs of professional service organizations and professional service divisions, a target vertical market for us."
PSA software integrates and automates core processes related to business development, service delivery and administration for any organization that generates revenue through billable hours. In addition to supporting organizations that generate revenue through billable hours, PSA software also benefits corporate IT and other internal service departments that track time for internal charge-back purposes.
"Lawson's commitment to vertical markets and its focus on solving customers' critical business needs will elevate our solution to the next level in terms of marketing and awareness," said John Lucas, president and CEO of Account4. "In addition, Lawson's strong heritage as a pure software company parallels our own, which makes for a great cultural match."
The acquisition will enable Lawson to offer more automated functions to professional service organizations, including forecasting and planning, scheduling and assignments, skills and resource management, time and expense reporting, project management and invoicing functions. The solution will be available as a comprehensive and integrated product suite, or in component parts.
Lawson Software is a leading provider of enterprise software solutions for financial, human resources and supply chain management.
Lawson solutions enable collaboration among customers, partners, buyers and employees in vertical markets like healthcare, retail, professional services, financial services and the public sector. Headquartered in St. Paul, Minn., Lawson has more than 1,900 employees with offices and/or affiliates serving North and South America, Europe, Asia, Africa and Australia.