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Joblogic Acquires Competitor Protean Software

Joblogic Acquires Competitor Protean Software
03 August 2023
 

Field service management software provider Joblogic has acquired Protean Software, one of its competitors in the sector.

As well as the company’s assets and the absorption of its client base of more than 10,000 users, Protean’s 50 employees will join the Joblogic team at the company’s central Birmingham offices. The deal increases Joblogic’s subscriber base by 50 per cent.

The acquisition is the first major transaction following Joblogic’s recent investment by Axiom Equity, and forms part of Joblogic’s UK and international expansion strategy. The acquisition is being funded by internal cash flow and a new line of credit from CIBC Innovation Banking.

Commenting on the deal. Joblogic’s CEO James Whatmore said: "It's a strategic acquisition that's going to accelerate our growth goals for the UK FSM market. We wanted to do this deal for a number of reasons. Most importantly we're scaling up our own teams and trying to hire the best people in the industry. We respect Protean and what they've built over the past 20 years. We know that their team is experienced, built on integrity and is culturally aligned with ours. They're client focused and that's important to us. Also, their customer base is very close to ours. This gives us high confidence in making our collaboration a success. We can offer them enhanced support on their current product with an exciting option to move to the best cloud FSM product on the market when they're ready."

“I’m delighted that our business has been acquired by a company with similar focus and values to ours and I am confident that the employees and customers of Protean could not be in better hands,” commented Bob Anderson, its long-term chief executive officer, who is stepping down following the conclusion of the deal.

“The combined knowledge of Joblogic and Protean creates a company unmatched in the field service management software sector globally.”

Picture: a photograph of the Joblogic team. Image Credit: 

Article written by Ella Tansley | Published 03 August 2023

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