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Authoria, a small company that develops human resources software, is beginning to expand through acquisition.
Waltham, Mass.-based Authoria Inc. on Monday will announce the purchase of Advanced Information Management Inc., which provides integrated performance management and compensation management software.
The addition of AIM should complement Authorias benefits, compensation and HR policy information software, company officials said.
“Between the two, we will be the market leader in pay-for-performance [software],” said Tod Loofbourrow, president and CEO of Authoria.
The terms of the deal were not disclosed.
The AIM offices in Santa Barbara, Calif., will become development offices for Authoria. Combined, the company will have 150 employees.
The acquisition also will bring a healthy customer base to Authoria, including 65 companies such as Coca-Cola Co., Pfizer Inc., Exxon Mobile Corp., John Deere Capital Corp. and Bank of America.
“We looked at the whole performance management and compensation markets, and AIM is the only vendor that had an integrated suite across both areas,” Loofbourrow said. “We also looked at the richness of their customers.”
