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Smooth acquisition for dental software company

By Phil Boeyen, ShareChat Business News Editor

Wednesday 20th December 2000

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Listed dental software supplier Software of Excellence (NZSE: SOE) says its UK expansion is on track with the integration of its own business with that of its newly purchased acquisition.

The software supplier, which listed this week, has acquired the dental software business of the UK-based Henry Schien Technologies in a move which has more than doubled the company's professional customer base in Britain to over 1300 dental practices.

CEO Paul Weatherly says the acquisition will provide an immediate cash flow because of the support contracts that it is acquiring as part of the deal.

He says operating economies will also be made from the integration of the product support functions and the use of common management, selling and administrative systems.

Software of Excellence is the leading provider of dental software in New Zealand, and with the new acquisition is now the largest supplier of dental software in the UK market, where it has been operating since 1996.

The company issued 5 million shares at $1.00 each in its oversubscribed IPO. The stock closed up 2 cents today at $1.04.

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