Future bleak for PeopleSoft users according to Tech One boss

Stan Beer
Friday, 05 November 2004 14:00

IT Industry - Development

Technology One (ASX:TNE) boss, Adrian Di Marco, painted a bleak future for PeopleSoft users in the wake of an Oracle take-over at today's AGM.

However, Di Marco said Oracle's bid for PeopleSoft is great news for the Australian ERP player. At the TNE AGM today, Di Marco said Oracle's hostile takeover bid for Peoplesoft is creating fear, uncertainty and doubt in the enterprise applications market, and creating opportunities for the QLD based company.

"With the European Union and US Justice Department giving a green light for Oracle's takeover of Peoplesoft, those organisations with a Peoplesoft or JD Edwards product are readying themselves for the likely fallout," Di Marco said.
"The long-term future for product support and R&D will not be positive for Peopelsoft customers - Oracle will not be able to support numerous R&D teams building overlapping products, and JD Edwards customers, who have just been through the Peoplesoft takeover, are bracing themselves for even more uncertainty," he said.

Di Marco said TNE is the only enterprise applications vendor in the mid-market to provide a one-stop shop solution where it develops, markets, implements and support all its own products, providing customers with a guarantee for the future product direction. "In a consolidating market, this business model will help us to maximise opportunities in the long-term," he said.

Di Marco has said that TNE will never pass into foreign hands and is not for sale. In the 2003/04 financial year, the company had revenues of more than $50.5 million and net profit of nearly $9.5 million.