The 16-year old Yorkshire-based people and project management software provider Atlantic Global who put itself up for sale in September following approaches from two parties (see Atlantic Global attracting acquisition attention), will be acquired by KeyedIn (UK) for c£4.9m.
KeyedIn (UK) is a subsidiary of US-based SaaS ERP provider KeyedIn Solutions. Atlantic Global looks like a good fit: its growing SaaS operations are complementary and its product set will broaden KeyedIn’s portfolio. As we noted in September, the UK company was not going really getting anywhere (half year revenue was well under £1m and pre tax profit was just £33K) so an acquisition was looking like a positive move and this one will give it take it into the US market.