Asure Software Acquires OccupEye Limited; Building on an already impressive Internet of Things (IoT) Strategy
April 09, 2018 at 08:00 AM EDT
AUSTIN, Texas, April 09, 2018 (GLOBE NEWSWIRE) -- Asure Software (NASDAQ:ASUR), a leading provider of Agile Workplace Solutions, which include Human Capital Management (HCM) and workplace management software, today announced the acquisition of OccupEye Limited. OccupEye provides a sensor-based solution that allows organizations across the world to streamline operations, creates efficiencies, enhance productivity and analyzes employee engagement, which generates cost savings and creates a more employee-focused workplace. OccupEye’s technology combined with Asure Software’s existing workplace management software and Human Capital Management (HCM) services, allows Asure Software to expand its technology solutions while adding its own complementary and proprietary sensor hardware and analytics.
Pat Goepel, CEO of Asure Software said, “With the acquisition of OccupEye, Asure Software is now positioned to develop new innovations in the IoT space, while offering our clients the technology solution they need improve the employee experience and drive down costs.” Goepel continued, “Our workplace management solution, Smartview, gives insight to companies so they can optimize space for maximum productivity. With the addition of our own sensor technology, OccupEye, which integrates with Smartview, we will be able to continue to innovate our Human Capital Management and workplace platform while increasing our sales through new cross-selling opportunities.”
Organizations are making investments in an IoT strategy. By adding OccupEye to our workspace solutions, Asure Software will create new opportunities to lead with innovation, and strengthen Asure Software’s cloud strategy while creating new industry visibility with a wider market reach and strengthening the IoT program.
OccupEye will open a unique cross-selling opportunity across accounts integrating with Resource Scheduler, Asure Software’s rooms scheduling software, Smart View, the space utilization solution and combining it with the HCM platform, to create the full employee engagement experience.
Joe Karbowski, CTO of Asure Software stated, “This technology can put valuable data into the hands of Finance, IT, and HR leaders, along with other decision makers, to increase efficiencies and reduce operating costs across an organization.” Karbowski continued, “Asure Software can now explore and develop our own technology that can monitor vital real estate data involving; cooling systems, lighting, increased office efficiency and more, while integrating with our current Human Capital solutions data that maximizes the employee experience.”
*Non-GAAP Financial Measures
EBITDA, excluding one-time expenses, is calculated by adding income taxes, interest expense, depreciation and amortization and stock compensation expense to net earnings and excluding certain expenses that management believes to be one time in nature and are not expected to recur on a dollar or per share basis. EBITDA is not defined under GAAP and should not be considered in isolation or as a substitute for net earnings and other consolidated earnings data prepared in accordance with GAAP or as a measure of Asure's profitability.
Reconciliation of GAAP Net Income (Loss) to EBITDA Excluding One-time Expenses:
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