Northgate swallows another payroll firm
Confidential an entrée in acquisition buffet
Payroll software giant Northgate HR has continued its acquisition strategy with the purchase of Confidential Payroll.
In a deal understood to be worth more than €1.5m, the acquisition follows the recent buy-outs of Irish time and attendance (T&A) software firm Engage Technology, and Link HR Systems.
Speaking with ENN, Northgate managing director Niall Doherty said the company has plans to continue its expansion through organic growth and more acquisitions.
"There will be more in 2007 and we're constantly looking out for possible acquisitions," he said, adding that he was looking at the payroll, HR, and outsourcing sectors. "There are companies on the horizon."
Northgate is flexing its muscles in the Irish HR software business, and wants to emulate the success of its British parent, publicly-listed Northgate Information Systems, which now considers itself third placed in the UK market behind SAP and Oracle.
Northgate's Irish operation has grown considerably since 2004 when it employed 20 full-time staff, to its current headcount of 60 in Belfast, Dublin and Cork. Last year Northgate HR processed over €5bn in salaries in Ireland.
The latest acquisition of Confidential Payroll brings clients such as the Eastern Health Board, Galxo Dublin, City Jet, and Caledonian Life & Pensions into the Northgate fold. Confidential Payroll's 13 staff will also be joining Northgate HR.
The Northgate Group operates across the globe, with operations in Europe, Australasia, North America and in Africa. It is currently working on a multi-jurisdictional software system for large companies with several currencies on their payrolls.
Northgate Information Systems has revenues of €493m and employs more than 3,500 staff worldwide.
Copyright © 2007, ENN