Finance software giant acquires Quantum

21 Feb 2005

Financial and performance management software vendor Systems Union Group has acquired Irish financial software distributor Quantum Business Solutions for an undisclosed sum.

As a result Quantum will be known as Systems Union Ireland. The origins of Quantum go back more than 20 years to when Michael Twomey founded Computer Resources. The company then evolved into Quantum Business Solutions and focused primarily on providing financial management solutions built around the Pegasus, SunSystems and the Quantum Payroll product portfolios as well as developing and supplying some complementary business solutions for vertical markets including the construction, credit control and waste industries.

The company, which has doubled turnover since 2000, distributes its solutions via a fully accredited channel of 20 partners and through a direct solutions business. More than 3,000 Irish businesses use a software solution from Quantum.

Quantum’s new parent company Systems Union is quoted on the Alternative Investment Market in London and its products are distributed to more than 50,000 companies in 194 countries. The company ranked fifth in last year’s Deloitte Fast 500 for the EMEA region.

Karl O’Leary, managing director of Systems Union Ireland, said: “With our new identity we are embarking on an ambitious drive to consolidate and build the profile of Systems Union brand solutions across Ireland.

O’Leary confirmed that the management team and workforce of Quantum Business Solutions would be staying in place.

By John Kennedy