Lawson Software (Nasdaq: LWSN) today announced it has agreed to acquire VasTech, a provider of workforce management software and services, headquartered in Annapolis, Md., with 45 employees. With this acquisition, Lawson will offer customers in the healthcare, hospitality and gaming industries an advanced workforce management staffing and scheduling solution to complement its Lawson Human Capital Management offerings.
Healthcare organizations, in particular, are challenged to manage their operational requirements and chronic staff shortages while providing high-quality patient care. By delivering workforce management capabilities that help address these key challenges, Lawson will continue to strengthen its leadership position in the healthcare industry.
Lawson’s new workforce management solution will also help healthcare organizations manage a variety of compliance and reporting challenges associated with safety initiatives, labor productivity and staffing levels. This is particularly important for hospitals as they face strict compliance with the staffing effectiveness standards of The Joint Commission – a regulatory organization that evaluates and accredits healthcare providers.
“By combining the strong staffing and scheduling offerings from VasTech with Lawson’s industry-leading products and team, we are again addressing key business challenges that confront our customers every day,” said Steffan Haithcox, healthcare strategy director, Lawson Software. “This is a strategic product addition to Lawson’s healthcare and human capital management suites. It demonstrates our ongoing commitment to provide solutions that address the needs of our customers and to extend our healthcare and human capital management leadership.”
“By reaching this agreement with Lawson, we will be able to improve the reach of our strong workforce management offering within our current target markets and beyond,” said Josh Vance, co-founder of VasTech. “As we looked for the right growth opportunity for our solution and our clients, Lawson clearly emerged as the right fit because of its leadership position in the healthcare industry – along with its leadership in the human capital management space across many workforce-intensive industries.”
The transaction is expected to close in March 2008. The transaction is not anticipated to have a material impact on the company’s fiscal 2008 fourth quarter or fiscal 2009 results. Lawson’s fiscal year ends May 31, 2008.
About Lawson Software
Lawson Software provides software and service solutions to 4,000 customers in manufacturing, distribution, maintenance and service sector industries across 40 countries. Lawson's solutions include Enterprise Performance Management, Supply Chain Management, Enterprise Resource Planning, Customer Relationship Management, Manufacturing Resource Planning, Enterprise Asset Management and industry-tailored applications. Lawson solutions assist customers in simplifying their businesses or organizations by helping them streamline processes, reduce costs and enhance business or operational performance. Lawson is headquartered in St. Paul, Minn., and has offices around the world. Visit Lawson online at www.lawson.com.
Forward-Looking Statements
This press release contains forward-looking statements that contain risks and uncertainties. These forward-looking statements contain statements of intent, belief or current expectations of Lawson Software and its management. Such forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company is not obligated to update forward-looking statements based on circumstances or events that occur in the future. Risks and uncertainties that may cause such differences include but are not limited to: uncertainties in Lawson's ability to realize synergies and revenue opportunities anticipated from the Intentia International acquisition; uncertainties in the software industry; uncertainties as to when and whether the conditions for the recognition of deferred revenue will be satisfied; increased competition; uncertainty regarding potential future deterioration in the market for auction rate securities which could result in additional permanent impairment charges, global military conflicts; terrorist attacks; pandemics, and any future events in response to these developments; changes in conditions in the company's targeted industries and other risk factors listed in the company's most recent Quarterly Report on Form 10-Q and the most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. Lawson assumes no obligation to update any forward-looking information contained in this press release.