ERP software
Forterro buys Abas Software
Forterro, a consortium of international ERP software companies, announces the acquisition of Abas Software AG, a privately held ERP provider headquartered in Germany.
Abas was founded in 1980 and today provides around 4,000 medium-sized production and trading companies worldwide with a complete ERP portfolio. The company currently employs 450 people. Abas ERP is listed among the top 5 ERP systems for medium-sized production companies in several countries. For Forterro, "Abas is an important strategic milestone as it represents not only our eighth ERP software acquisition in Europe, but also our entry into Germany, Europe's largest manufacturing market," says Jeff Tognoni, CEO of Forterro. Baris Ergun, CEO at Abas adds: "The agreement with Forterro will enable us to make our new offerings available to more markets while leveraging local synergies with other ERP providers in the new group."
Forterro is a group of companies that provide ERP software to SMBs in specific geographic or vertical markets. Headquartered in Austin, Texas, and backed by global investment firm Battery Ventures, Forterro has companies in Sweden, Switzerland, France and Poland, as well as regional offices and research and development centers around the world.
The acquisition is subject to approval by the relevant antitrust authorities.
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