SSA GT gets another cash injection

Equity investment firm General Atlantic Partners has invested US $75m in ERP software developer SSA GT, meaning that with Cerberus Capital Management still at the helm, the company now has backing from international owners representing some $12 billion. SSA GT has spent the last couple of years transforming its financial profile, also building a new management team and expanding its products. The firm now reckons 2003 revenues will be up more than 50% against last year at around $281m. CEO Mike Greenough refers to an “extraordinary financial performance during fiscal year 2002” and “continued momentum in the first half of 2003.” With a claimed 11,000 customers and what look like aggressive growth plans, including recent acquisitions of Infinium Software, CA’s Interbiz and earlier also Max international, the firm does seem to be bucking the trend of difficult times.