Application hosting firm Velocity on Wednesday entered into an agreement to acquire Titan Technology Partners, which offers a range of SaaS-delivered human capital management (HCM), enterprise performance management (EPM) and enterprise resource management (ERP) platforms.
The terms of the deal were not disclosed.
Velocity, which also offers hosted ERP in addition to other software, said the acquisition will expand its portfolio to include support for platforms provided by SAP and Oracle, both heavyweights in the HR department.
Titan, which was founded in 1998, is based in North Carolina, US but has clients in North America, Asia and Europe; the move is expected to bolster Velocity’s presence in a number of high-growth markets for cloud. The acquisition will also see Velocity extend its cloud platform to Titan customers.
“Cloud is evolving beyond infrastructure hosting and towards a full spectrum of business management solutions,” said Tom Bruno, chief executive officer of Velocity.
“Titan’s wealth of business process and application expertise is a great complement to Velocity’s hosting capabilities, advanced cloud management tools, and ground-breaking application usage analytics,” Bruno said.
“We are raising the bar on important topics such as business productivity and performance, resilience, security, and operational transparency for enterprise applications hosted in the cloud. We welcome Titan’s customers and employees and look forward to providing the combined breadth and depth of services to our collective customers and the marketplace.”
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