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Delft, 16 September 2020 – Exact, the Dutch producer of business software, today announced its acquisition of Unit4 Bedrijfssoftware, Unit4’s branch serving the Dutch and Belgian accountancy, SME and corporate sectors.

The acquisition brings together two leading Dutch players in business software. The acquisition is subject to applicable antitrust clearance and has been submitted for works council consultation.

Enriching the offering

The addition of Unit4 Bedrijfssoftware’s product portfolio allows Exact to offer a complete end-to-end suite of financial and HR software for SME and accountancy firms. Unit 4 Bedrijfssoftware complements Exact’s portfolio with the addition of Boekhoud Gemak, Rapportage Gemak, Fiscaal Gemak, Werkprogramma Gemak, Communicatie Gemak, HR & Salaris Gemak and Kantoor Gemak. The company’s Venice Bookkeeping software will be added to Exact’s line-up in Belgium. 268 employees work at Unit4 Bedrijfssoftware across offices in Utrecht, Sliedrecht, Barendrecht, Hengelo and Bruges (Belgium).

Focus on the Benelux

Exact CEO Phill Robinson says: “Exact and Unit4 Bedrijfssoftware, both Benelux software businesses, have been serving local SME and accountancy customers for many years. Both are deeply invested in the unique culture, language, business practices and legislative requirements of the local businesses they serve. Their coming together creates a local champion provider for local champion businesses, with the most advanced and complete suite of cloud solutions for SMEs and accountancy firms. This acquisition fits with Exact’s strategy to grow through a powerful combination of organic development together with the integration of acquired products.”

Herman de Jonge, CEO of Unit4 Bedrijfssoftware, notes: “Over the past two years, we have strengthened our product portfolio and brought it to the cloud. This has resulted in an accelerated growth in our turnover and market share. I am extremely proud that Exact recognised this and am delighted that we are now joining forces. I believe our combined portfolios and Exact's position in the SME sector will form a company that can offer our SME and accountancy customers a comprehensive suite of solutions. In Exact, I see focus and innovation which will ensure that we continue to build on our successes together.”

Mike Ettling, CEO of Unit4, says: “Our strategy, communicated in 2018, to integrate the SME and accountancy activities in the Benelux into Unit4 Bedrijfssoftware has proven to be very successful. Unit4 Bedrijfssoftware has grown rapidly and has regained its position in the Benelux market. Today, we announce the sale of Unit4 Bedrijfssoftware to Exact. We believe the strategic fit with Exact is great. I wish Exact and the Unit4 Bedrijfssoftware team the best of luck as they move forward together.”

About Unit4 Bedrijfssoftware

Unit4 Bedrijfssoftware was created in 2019 from the merger of five lines of business within Unit4 whose history goes back 40 years. Unit4 Bedrijfssoftware has become the leading provider of integrated accounting and financial software for SMEs.

In addition to software for financial management, the accountancy portfolio also includes solutions for taxes, financial statements, audits, HR/payroll and CRM. In recent years, Unit4 Bedrijfssoftware migrated its products to the cloud. The acquisition of Fiscaal Gemak in 2019 made Unit4 Bedrijfssoftware a market leader in the accountancy sector. Unit4 Bedrijfssoftware is active in the Benelux and has offices in Utrecht (headquarters), Sliedrecht, Barendrecht, Hengelo and Bruges (BE).

Questions and answers

Exact was founded in 1984 and is headquartered in Delft. Exact develops software for financial management, ERP and HR payroll administration for SMEs. The company has more than 1,500 employees. Exact's clients are mainly active in accountancy, production, professional services, wholesale, logistics and the construction sector.

Exact offers the most complete portfolio of business software for SMEs. More than 500,000 companies in the Benelux rely on one or more solutions from Exact - Exact Online, Exact Globe, Exact Synergy or Exact Financials. Ninety percent of customers choose Exact's cloud services. For medium-sized organizations, the software is also available on-premise.

Unit4 Bedrijfssoftware is a Dutch software company, founded in 2019. It was formed from five lines of business within Unit4. The history of these business lines goes back 30 years. Throughout the years, Unit4 Bedrijfssoftware has become the leading supplier of integrated software for the accountancy and financial software for the SME segment.

The accountancy portfolio encompasses financial management software, as well as applications for fiscal, annual account, audit, HR/Payroll and CRM. In the past years, Unit4 Bedrijfssoftware has migrated its products to cloud. The acquisition of Fiscaal Gemak in 2019 has made Unit4 Bedrijfssoftware the market leader in accountancy.

Unit4 Bedrijfssoftware is active in the Benelux and has offices in Utrecht (HQ), Sliedrecht, Barendrecht, Hengelo and Brugge (Belgium).

This acquisition is yet to be approved by antitrust authorities and has been submitted to the works council.

The preparation of both parties and the cooperation has been excellent. We are positive this will lead to a successful closing.

Unit4 Bedrijfssoftware has 268 employees.

Both Unit4 Bedrijfssoftware and Exact have continued to grow throughout the COVID-19 pandemic.

We expect our growth to continue, and as a consequence our plan is to maintain the combined staff as much as possible.

Unit4 Bedrijfssoftware is focused on a different customer segment than Unit4’s global business. It has been operating as a strong independent division in the Benelux which has helped to showcase the individual strengths of its people and solutions and the value they deliver. By operating independently from the Unit4 global business, it has strengthened its reputation in the market. Unit4 Bedrijfssoftware will benefit from being part of Exact with a shared focus on the Benelux SME and Accountancy markets.

  • Cees van den Heijkant – Chairman
  • Herman de Jonge – Chief Executive Officer
  • Sascha Pistora – Chief Financial Officer
  • Joris van Leeuwen – Chief Commercial Officer
  • Joep Hoeks – Chief Technology Officer
  • Ory Zurr – Chief Operating Officer

The Unit4 Bedrijfssoftware management team is committed to stay with the business and will continue in their current roles for the foreseeable future.

It will strengthen our strategic position and ambitions. Our growth is fuelled by a powerful combination of organic development of Exact technology platforms together with integration of acquired products.

Both teams are staffed with some of the most experienced Dutch and Belgian software professionals with deep with deep local market and industry knowledge. This knowledge will be combined and broadened, providing a depth of local market understanding that will strengthen our ability to execute.

Our innovative, market leading products are designed and optimized specifically to address Dutch and Belgian market conditions and regulations and therefore the acquisition will enrich our product and services portfolio. Also, we will ensure that our customers are well informed and that a consistent level of quality is maintained.

No. Due to confidentiality concerns, we cannot comment.

Unit4 decided in 2018 to focus on its global business and enterprise products, giving its Benelux Accountancy and SME products division (Unit4 Bedrijfssoftware) more autonomy and focus. By operating independently from the Unit4 global business, Unit4 Bedrijfssoftware has strengthened its reputation locally, and both Exact and Unit4 Bedrijfssoftware will benefit from a shared focus on the Benelux SME and accountancy market. This acquisition uniquely positions Exact to offer its customers in the Benelux a more comprehensive value proposition.

No, rather than buying market share, we are buying complementary functional capabilities and market expertise.

Acquired products include Boekhoud Gemak, Rapportage Gemak, Fiscaal Gemak, Werkprogramma Gemak, Communicatie Gemak, HR & Salaris Gemak and Kantoor Gemak.

SMEs and Accountants want a fully integrated financial/tax/reporting/HR/payroll/CRM management suite that addresses their local requirements. The combination of our complementary technology platforms and expertise accelerate our ability to meet those needs.

Over the next 6 months, all products will be rebranded under the Exact name.

Our ambition is to be the Benelux National Champion provider of business software. Acquisitions are in line with this ambition to better serve the needs of Benelux companies. We will continue to invest in products and services that serve the needs of our customers.

Exact is committed to continue to develop, maintain and support the Unit4 Bedrijfssoftware portfolio of products.

All contracts will remain in place as it is the legal entity that is acquired by Exact (I.e. not an asset deal).

We will communicate our integration plans at a later phase. We are also ensuring at this time, that we maintain our focus and attention on our customers to ensure they are not adversely affected by this acquisition.

No details will be disclosed.

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