February 22, 2008 - Lawson Software agreed to acquire VasTech, a provider of workforce management software and services.
With this acquisition, Lawson will offer customers in the health care, hospitality and gaming industries an advanced workforce management staffing and scheduling solution to complement its Lawson Human Capital Management offerings.
Lawson's new workforce management solution will help health care organizations manage a variety of compliance and reporting challenges associated with safety initiatives, labor productivity and staffing levels. This is particularly important for hospitals as they face strict compliance with the staffing effectiveness standards of The Joint Commission - a regulatory organization that evaluates and accredits health care providers.
"By combining the strong staffing and scheduling offerings from VasTech with Lawson's industry-leading products and team, we are again addressing key business challenges that confront our customers every day," said Steffan Haithcox, healthcare strategy director, Lawson Software. "This is a strategic product addition to Lawson's health care and human capital management suites."
"By reaching this agreement with Lawson, we will be able to improve the reach of our strong workforce management offering within our current target markets and beyond," said Josh Vance, co-founder of VasTech. "As we looked for the right growth opportunity for our solution and our clients, Lawson clearly emerged as the right fit because of its leadership position in the health care industry - along with its leadership in the human capital management space across many workforce-intensive industries."
The transaction is expected to close in March 2008. The transaction is not anticipated to have a material impact on the company's fiscal 2008 fourth quarter or fiscal 2009 results. Lawson's fiscal year ends May 31, 2008.
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