Deal adds to Lasata’s run of success

WINNING awards is nothing new to the directors of Lasata Software, so it is no surprise to hear Steve Wall and Tony Farrell were on a plane to Hong Kong, then Canada, within days of accepting their latest prize.

Two weeks ago, Messers Hall and Farrell were awarded the Ernst&Young Entrepreneur of the Year Technology, Communications, E-commerce and Life Sciences award.

In both 2000 and 2001, Lasata Software won the Information Industries Export Award in the Western Australian Industry and Export Awards, and the Hewlett-Packard Information Industry Award in the Australian Export Awards.

Lasata also was awarded the Western Australian Information Technology and Telecommunication Awards (WAITTA) for the 2000 Exporter of the Year and the 2000 Product of the Year.

Earlier this month, Lasata announced it was acquiring Synex Systems Corporation (SSC), the software division of Canada’s Synex International. Lasata is due to take over SSC by October 1 this year.

Under the terms of the offer, Lasata will pay $C2,545,000 plus about $C400,000 in working capital, subject to a holdback in respect of the working capital of $C200,000.

Mr Wall said Lasata was currently in the due diligence period of the acquisition, which was progressing well.

He said Synex would provide Lasata with a global distribution network for distributing Lasata’s Vision product set, and also offered other products that could be marketed through Lasata’s UK and Australian operations.

Lasata intends to launch a number of new products in mid-October, including maintenance planning software and hotel front office software.

“As well as our Vision product initiatives we will be concentrating on the expansion of our Synex Systems acquisition and building on the many business opportunities that have come from our UK acquisition last year,” Mr Wall said.

There are no plans, however, to capitalise on the company’s success by undertaking a public listing, he said.

“Our organisation has expanded carefully, funding all acquisitions from retained capital. We are debt free and in a position to now benefit from our powerful software product set and our distribution capability,” Mr Wall said.