I’ve been waiting to see if an announcement would be made as I had previously heard that CODA and Agresso had agreed on terms which see Agresso buy CODA at a price of 205p per share or £158 million. What I didn’t realise was that they’d jointly put out a statement before market opening this morning confirming they have received offers that effectively put CODA in Agresso’s hands.
This is a great move for both companies and I warmly congratulate both boards of directors for making this happen. My understanding is that both see this as an opportunity to consolidate their position in the market – they would say that though – and capitalise on their relative strengths.
I was particularly interested in discovering how this will impact CODAs Force.com development. Word is that Agresso are very interested in this aspect of the CODA business. That makes sense because some of the best on-demand work is coming out of the nordic countries where Agresso has its roots.
As always with acquisitions, there will be roadblocks and issues to navigate but it is quite a while since I saw two companies that are quite as attuned to one another as these. They should do well.
Technorati Tags: agresso, CODA
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