Just last week AVEVA announced results and a dividend that left it with plenty of cash to spend on building out its offerings and sales/support capacity. Today the company formally announced that the spree is underway, announcing two acquisitions.

The first will extend AVEVA’s materials management offering with the acquisition of the MARS business unit from Logimatic, a Danish company, for about £12.8 million (or €14.5 million) including deferred consideration of approximately £1.3 million. MARS is a process management system used in shipyards for production planning; it it billed as a “vertical ERP solution for shipbuilding” that will enable AVEVA to deliver an integrated material management and construction planning solution to the process industry and extend its existing offering for the marine markets with material control and production planning capabilities. MARS is currently in use in over 70 shipyards and has reportedly been used to build over 1500 ships.
AVEVA CEO Richard Longdon said "[t]he acquisition of Logimatic further strengthens AVEVA’s market position in the Plant and Marine industries. AVEVA NET remains a strong focus for the business as our customers increasingly look to technology solutions to manage both new and brownfield assets.  By bringing together highly skilled industry professionals with unrivalled industry knowledge, proven products, solution delivery capacity and strong customer relations, this acquisition strengthens our position within this market which will enable us to capitalise on the growing opportunities."

But AVEVA made two announcements today. The second is that the company acquired the WorkMate software product suite, customer contracts, staff and certain fixed assets from ADB Systemer AS, a Norwegian company, for approximately £4.4 million (NOK 40.0 million).  ADB’s oil and gas business provides operations integrity management solutions to the oil and gas industry.

Commenting on this acquisition, Mr. Longdon said "This strategic acquisition builds on an already successful partnership with ADB Systemer AS and is the obvious next step. AVEVA’s investment brings together world class technologies, and provides us with the opportunity to further extend our AVEVA NET capabilities and the value we bring to our Oil and Gas and other Plant customers through a comprehensive integrated solution for the operation and management of their assets."

Both acquisitions are expected to complete on June 30, 2010 and were funded out of existing cash resources.

These deals consume about half of the cash AVEVA had been rumored to have set aside for acquisitions and reflects the current appetite in the space for small “technology tuck-ins” rather than big, splashy acquisitions. Look for more deals to help build out AVEVA’s sales and support capacity in new regions such as South America, Asia and CIS — in addition to more AVEVA NET-enabling technologies.