Systems Union Group plc.

• Position: Acquisition

Extensity has reached an agreement with Systems Union Group plc on terms by which Extensity would acquire Systems Union, subject to certain conditions, including regulatory clearance, approval by the High Court in England and shareholder approval.

Extensity, formed earlier this year through an acquisition of Geac, the Toronto-based provider, is a large financial performance management company focusing on the needs of finance professionals, from analysts to CFOs. Extensity provides end-to-end solutions comprised of financial and performance management applications.

Systems Union is a global company, delivering financial management, reporting and performance management solutions to over 50,000 customer sites around the world. Systems Union deploys its solutions through a network of 45 corporate offices in 20 countries and 500 reseller partners.

"Extensity's acquisition of Systems Union is an important first step in our stated strategy of assembling a comprehensive range of world-class financial performance management applications," said Ken Walters, Extensity's President and CEO, in an announcement. "Through the addition of Systems Union's complementary financial and business intelligence software applications, Extensity will deliver a broad range of software solutions for financial and corporate performance management."

Consistent with its "assembler" strategy, Extensity intends to maintain and enhance the existing Systems Union product...