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Agresso, an ERP vendor, has expanded its presence in North America and increased its product offering with its recent acquisition of Coda, a European-based, U.K.-headquartered developer of international financial accounting software.

 

Agresso officials say the move gives Agresso "new customers, offices and products that will greatly enhance its global footprint to over 5,500 customers worldwide, specifically increasing its presence in the North American market to 400 customer organizations."

Newly acquired Coda offices on the East Coast and in the Midwest of the U.S. are intended to allow Agresso North America to improve its service to customers and prospects. The newly combined company is ranked as the sixth largest mid-market ERP vendor globally, with over 3,500 employees across 19 countries.

The firm will continue to pitch its ERP product at the segment of the public and private services sector that it terms BLINC -- Businesses Living IN Change. However, the addition of Coda extends the group's strengths into the SMB and enterprise markets.

 

Coda's clients include IKEA, Texas Pacific Group and UPS Logistics.

"With Coda, we can now address new markets in North America as well as offer additional products and increased service capabilities to existing customers," said Shelley Zapp, President, Agresso North America.

 

A product Agresso officials believe will benefit users is Coda 2Control Consolidation, a financial consolidation tool that streamlines group financial reporting. This will allow Agresso Business World users to "handle the process of reconciling and combining financial accounts into a single consolidated view for statutory and management reporting," company officials say.

 

In March Agresso officials noted that the firm ranks #6 on the list of vendors for ERP revenue in the Medium-Sized Business Segment, by market research firm IDC. And that Agresso had the second highest growth rate of the Top10 ERP vendors in this segment, in the most recent IDC report.

 

This ranking, IDC officials say, is based on revenue generated for worldwide license, maintenance, and subscription ERP revenue in the medium-sized business segment.

 

According to the IDC report the medium-sized business ERP market will grow 11.6 percent CAGR through 2011. This rate will exceed the overall growth rate of 8.1 percent for the entire ERP market as a whole. Agresso's stated goal is to have business revenues of $700 million by 2009.

 

"Agresso has been expanding steadily to claim a growing share of the midmarket ERP space," states IDC in the report "Worldwide ERP Applications 2006 Vendor Shares: Top Vendors in Small, Medium-Sized, and Large Customer Segments."