June 3, 2014

Cígler Software and Vema joined together in a new holding named Solitea

Cígler Software, a significant producer of accounting and ERP systems, and Vema, the largest Czech producer of HR management systems, joined their joint-stock structure in the Solitea holding. The aim is to offer a complete portfolio of products and services, improve the customer service and take advantage of shared resources for further development.

In recent years Cígler Software, a traditional supplier of the accounting software and information systems Money, has had success in cloud-based systems for the smallest businesses – with its iDoklad service it controls the market with invoicing services both in the Czech Republic and in Slovakia. In December 2013 the company drew attention by performing the largest acquisition in the field of ERP systems in recent years – its purchase of Altus Software. Vema is currently the leader on the market of HR information systems in the Czech Republic and Slovakia. Its customers range from large companies, budgetary organizations up to public organization authorities. The company also offers its customers the option of payroll processing in its own cloud or complete payroll outsourcing.

“The aim of our connection with Vema and the ambitions of the new holding are clear – consolidation of our product portfolio and customer network,” said Martin Cígler, Chairman of the Board of Directors of Cígler Software. “Many of our customers are interested in sophisticated solutions for payroll processing and HR management, as these are one of the most complicated and most legislation-dependent solutions. We believe Vema products and services in this area are the best on the market.”

Michal Máčel, Chairman of the Board of Directors of Vema, also points out the positive synergic effects following from merging the two companies: “We have been striving for a connection with a strategic partner in the area of ERP systems for several years and with Martin Cígler we share the vision of further development. The wages of every seventh employee in the Czech Republic are processed by our systems and it is therefore only logical to widen our offer of HR agenda solutions to include solutions for complete company agendas. Solitea is now capable of supplying a complete portfolio of top Czech products.”

Both companies share a similar history. They were founded in 1990, their founders are still active in the management, their size and number of employees is comparable and they both operate in the Czech Republic and in Slovakia. Their products are synergetic, they share the same vision and the companies complete each other by the distribution of their regional branches. No other company on the market offers such a wide base.

Cígler Software, a. s., with over 120,000 customers and a wide portfolio of products, is a leader on the Czech and Slovak market with accounting and information systems. Its most important products include ERP solutions Money S4 and Money S5, the popular accounting system Money S3 and the cloud-based invoicing service iDoklad. Cígler Software is also a significant producer of cash register systems. The company portfolio includes the Altus Vario ERP system, obtained by the company through an acquisition towards the end of 2013.

Vema, a. s., is a Czech software company founded in 1990. It is a leading supplier of HR information systems for organizations of all types and sizes in the Czech Republic and Slovakia. Company products are used to process wages of over 650 thousand employees. Since 2005 it has successfully offered its own cloud solutions.

The Solitea, a. s., holding has been one of the largest subjects on the Czech and Slovak ICT market right from its foundation. It employs almost 300 employees in the Czech Republic and Slovakia and its consolidated revenues exceed 330 million CZK, EBITBA is over 70 million CZK. Behind this project is Martin Fedor, partner of the J&T group, Martin Cígler, founder of Cígler Software, and Michal Máčel with Jan Tomíšek, original shareholders of Vema, a.s.

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