Objective buys UK SaaS group

Australian software company Objective today revealed it had acquired UK-based fellow content managementdeveloper Limehouse Software for at least $6.65 million.

in brief Australian software company Objective today revealed it had acquired UK-based fellow content management developer Limehouse Software for at least $6.65 million.

Objective, whose software is used by a number of government departments around Australia, said the acquisition extended its footprint in the public sector, with Limehouse having about 200 customers in UK local governments and over 35 in North America.

Objective chief executive Tony Walls said Limehouse's solutions would extend Objective's own beyond record-keeping and process management to built-for-purpose applications to meet specific customer needs, as well as bringing other capabilities such as stakeholder management.

"Of further strategic importance, Limehouse has a proven and profitable software-as-a-service model, completely hosted in the cloud. This is the first of many solutions Objective will deliver via this model," he added. Objective will pay $6.65 million for Limehouse, plus a further $3 million if it meets targets.