Enghouse Systems Ltd. has acquired Altitude Software for roughly $30 million. Altitude develops omnichannel contact center solutions that support customer service, help desk, collections, telesales and survey tasks.
This is M&A deal number 536 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Enghouse, based in Markham, Ontario, Canada, develops enterprise software for remote work, visual computing, communications and software-defined networks.
Altitude Software, founded in 1993, is based on Lisbon, Portugal. The company supports roughly 300 customers worldwide.
Enhouse Systems Acquires Altitude Software: Executive Perspectives
In a prepared statement, Enghouse CEO Steve Sadler said:
"Altitude expands our presence in Latin countries -- primarily in Spain, Brazil, Mexico and now Portugal – enabling us to capture additional opportunities within these markets. We are very pleased to welcome Altitude's customers and employees to Enghouse."
Added Alfredo Redondo, CEO of Altitude:
"We are excited to join Enghouse, particularly because of the synergies between the two companies. Together, we look forward to expanding our product offerings to our existing and new accounts."
Enghouse funds acquisitions through its own cash flow. The company has been active on the M&A front. Earlier acquisitions include buying Telexis Solutions, an e-ticketing software specialist with annual revenue of approximately $18.8 million.
Enghouse Describes Ideal Acquisition Targets
Ideal acquisition targets, according to Enghouse, include software companies with these profiles:
- Software companies (public, private or divestitures) with revenue greater than $5 million
- Desired geographies include the Americas, the UK, Europe, Nordics and APAC
- Preferably with a strong recurring revenue stream (maintenance, hosted or subscription based revenue)
- Profitable or unprofitable
- Flexible in terms of management/entrepreneurs staying with the business to help grow the business globally or moving on to other endeavors.
- Software capabilities that include:
- Contact Center/Unified Communications/Video Collaboration/Conferencing
- Transportation/Fleet Management/Supply Chain/Public Safety/Automated Fare Collection
- Telecom Service Providers Software (OSS, BSS, VAS, IPTV)
- Geographic Information Systems (GIS) software based products
Enghouse also targets software companies with revenue over $10 million, in fragmented industries ripe for consolidation, the firm says.