Quite a day for UK based Tikit! Tikit has announced this morning the acquisition of both Carpe Diem time recording software from Sage Software and PensEra, makers of TimeKM time recording software. According to the news release (which can be found on their blog)...
"With immediate effect, the Sage Carpe Diem product becomes Carpe Diem Classic, with a new version - Carpe Diem Classic 2010 - scheduled for launch in Q4 of this year. This release will incorporate many of the enhancements users have requested from Sage over recent months.
The TimeKM suite (which along with time recording also includes forecasting and budgeting) will be renamed Carpe Diem Enterprise and will inherit its existing roadmap, supplemented by feedback from firms using Carpe Diem Classic, to ensure it continues to address next generation time recording trends and best practices."
Here are some financial details thanks to The Orange Rag Editor, Charles Christian.
- Annual support revenues for Carpe Diem were US$2.2 million in the year to 30 September 2010, while the total consideration was US$1.35 million, paid in cash from Tikit’s existing resources.
- PensEra had total revenues of C$0.99 million in the year to 31 July 2010. The initial consideration of C$0.73 million has been paid in cash from Tikit’s existing resources, and there is an additional capped deferred consideration payable over the next three years, dependent on software sales growth.
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