TechnologyOne to acquire ICON Software, further expanding reach into local government sector
TechnologyOne (ASX:TNE), Australia's largest publicly listed software company and a leader in innovation and creativity, has entered into an agreement to acquire ICON Software (ICON), for approximately $10 million.
Established in 2008, ICON is Australasia's leading provider of ePlanning and eGovernment software. ICON and TechnologyOne have successfully worked together over many years to deliver an integrated ePlanning and assessment solution to local government customers.
Planning is a core business requirement in local government with online self-service being a major initiative driven by both customer demand and efficiency reforms. Every day, thousands of people across Australia and New Zealand use an ICON software solution on council websites to track applications and permits, view planning schemes and browse community plans.
Adrian Di Marco, TechnologyOne’s Executive Chairman, said that the acquisition provided important functionality for the company’s offering in the local government sector, as well as deep domain expertise.
“ICON’s focus on online services for local government has many synergies with TechnologyOne,” said Adrian Di Marco.
“We already share many of ICON’s customers,” said Mr Di Marco. “The acquisition will enable us to offer an even more effective, best-in-class ePlanning and assessment solution. The solution also fits into our integrated and online centric local government enterprise vision. It adds to the already extensive set of online transactions available, further simplifying council operations as we continue to expand the depth and breadth of our solution.”
“Our focus is on delivering an end-to-end solution and a single point of accountability for all TechnologyOne customers.”