UK-headquartered subscription software developer MPP Global has been acquired by “CFO office” specialist Aptitude Software.
Aptitude – which provides finance transformation and automation software – is paying GBP37.1 million (A$67.96 million) in the deal, announced earlier this month.
Aptitude plans to combine the strengths of MPP Global’s eSuite subscription management platform with its own financial management software to provide a revenue management and reporting for seamless end-to-end subscription, billing and revenue automation.
eSuite is a modular, cloud-based solution for large media customers, counting hayu, McClatchy, Torstar (pictured), L’Équipe, Daily Mail and Berliner Verlag among its users.
The solution now covers the subscriber lifecycle including access control, identity management, CRM, product and pricing management, promotional tools, automated billing, payment processing, anti-churn technology and some data management services. MPP has offices in Europe, North America and the Asia Pacific.
Aptitude says the acquisition “perfectly reflects” its strategy of acquiring businesses that accelerate product strategy, expand on capabilities to automate complex finance functions and support its continued global growth across a broad range of sectors.
Chief executive Jeremy Suddards calls MPP Global “a strong strategic fit”, with both businesses positioned to capitalise on the growth in subscription offerings.
The acquisition comes as many industries are moving towards a subscription-based model, a trend noted in medical technology, advanced manufacturing and other sectors.
MPP’s northwest UK headquarters is to become a second long-term innovation centre for the expanded group.