Rectron, a subsidiary of JSE-listed company Mustek, has acquired a majority stake in ERP software development company, Palladium.
The company aims to strengthen its software proposition in the South African channel.
“We are extremely excited about our investment in Palladium and making our mark in the growing South African software ecosystem. Palladium aligns well with Rectron’s strategy to grow its cloud and software business,” said Spencer Chen, MD of Rectron.
“Not only will Palladium add value to Rectron’s product line, but we believe that Rectron’s broad-based resellers will benefit from using the in-house developed ERP software too, as it is feature-packed with functionality that would ordinarily only be available to larger corporates. It also gives our resellers the opportunity to stand out in the over-saturated ERP software market.”
Palladium is led by Stephen Corrigan, who has 25 years of experience in the ERP software industry. The company currently offers a hosted solution, with a full cloud solution expected in time.
“Diversification is critical to future sustainability,” said Gerhard Malan, FD at Rectron. “Investing in companies that have the ingenuity to meet customers’ dynamic demands will go a long way to ensuring our future profitability and success.”
Source: Buiness Tech