Press release BoxID: 156357 (Unit4 Business Software GmbH)
  • Unit4 Business Software GmbH
  • Marcel-Breuer-Str.22
  • 80807 München
  • Contact person
  • Karin Böckmann
  • +49 (6021) 38666-82

Unit 4 Agresso offer to acquire CODA plc declared unconditional

(PresseBox) (Chippenham, UK, ) .
- Acceptances representing nearly 90% of shares received
- CODA business to continue operating as before
- Unit 4 Agresso restates commitment to ongoing development and support of all CODA products

Unit 4 Agresso has today declared unconditional the recommended cash offer by its subsidiary Agresso Limited to acquire the entire issued and to be issued share capital of accounting software specialist CODA for 205 pence per CODA Share. As of 1.00 pm on 25th February it had received valid acceptances of the Offer, in respect of 68,589,964 CODA Shares, representing approximately 89.1 per cent of the CODA Shares to which the Offer relates.

Jeremy Roche, CEO of CODA plc said: "This is an exciting time for us and we are very excited to be working with Unit 4 Agresso to build on CODA’s success. Neon, our recent release and the world’s most advanced accounting software is starting to gain real headway in the market with new client wins and major customers going live, and in May we will launch our on-demand accounting system, CODA 2go. Being part of a much larger software organisation gives us the platform for growth in the future, and I believe our customers and staff have much to look forward to."

Unit 4 Agresso CEO Chris Ouwinga said: "This is a highly significant acquisition for us and CODA will play a key role in our growth strategy. As an increasingly global business software company, I firmly believe that the new combined organisation has a great future and promises exciting opportunities for staff, customers and shareholders."

"CODA is a successful business and has a suite of highly regarded product offerings in the form of a best-of-class financial management systems, recently enhanced by Neon, its latest product suite. We are committed to supporting CODA’s customers and product offerings into the future. We very much look forward to working with CODA’s staff and management team to further expand the combined business."

Further details on the offer can be found at

Unit 4 Agresso develops, sells, implements and supports business software for the management, support and optimization of business operations and for the optimization of the operational management. Prior to the acquisition of CODA it had branches in 10 European countries, the United States and Canada and sales worldwide, a turnover of €320.5 million was achieved in 2007. The head office is situated in Sliedrecht, the Netherlands. Unit 4 Agresso employs over 2,700 people, not including the newly acquired CODA business. For more information, please visit:

Unit 4 Agresso
Edwin van Leeuwen, Chief Financial Officer
Tel: +31 184 444 444

ING (financial adviser to Unit 4 Agresso and Agresso)
Xavier Moreels
Ali Awan
Tel: +44 207 767 1000

Piper Jaffray (financial adviser to Unit 4 Agresso and Agresso)
Nigel Daly
Peter del Favero
Tel: +44 203 142 1000

Unit4 Business Software GmbH

CODA creates, markets and implements a comprehensive range of software systems designed specifically to meet the needs of Financial Directors and Finance Departments. These include accounting and financial management systems, analysis applications, and business process management and control software. Its service oriented architecture also makes CODA software easy for clients and other vendors to integrate with their business applications. CODA was founded in the UK in 1979, has around 600 employees working at 18 offices in 14 countries. CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations, and is used by around 2,600 medium and large organisations in over 100 countries. For more information, please visit: