The acquisition of PHC Business Software by Cegid marks a major shift in the Portuguese management software industry. Announced on January 20, 2025, the deal took many by surprise, including PHC employees, despite months of behind-the-scenes preparation. While financial details remain undisclosed, the move aligns with Cegid’s strategy of expanding its leadership in the Iberian and international markets.
PHC, founded in 1989 by Ricardo Parreira, was one of Portugal’s last independent software houses. With a 35-year track record of profitability, it had attracted multiple acquisition offers. However, PHC ultimately chose Cegid due to its ambitious vision, aligning with PHC’s long-standing growth strategy.
This acquisition is part of Cegid’s broader expansion strategy, having integrated 23 companies in three years, including Primavera BSS, Eticadata, and Vendus in Portugal. According to Josep Maria Raventós, Cegid’s Executive Director for SMEs, the deal was a "difficult negotiation" but resulted in a strong partnership that will accelerate Cegid’s market leadership in the Iberian Peninsula.
A Strategic Integration
Despite being former competitors, the integration between Cegid and PHC is progressing smoothly. Both companies see strong synergies in their product portfolios and markets, particularly in cloud-based ERP, finance, HR, and accounting solutions.
PHC’s 260 employees, based in Lisbon, Porto, Madrid, Maputo, and Luanda, now join a company with 750,000 customers, 5,000 employees, and a presence in 130 countries. In 2023, PHC generated €17.6 million in revenue, while Cegid recorded €852 million, with ambitious growth targets exceeding €1.1 billion in 2025.
Future Growth and AI Innovation
Looking ahead, Cegid plans to integrate AI-driven solutions like Cegid Pulse, bringing automation and intelligence to business decision-making. Generative AI and data analytics will play a key role in helping small and medium-sized enterprises (SMEs) compete more effectively in a rapidly digitalizing market.
Cegid’s growth mindset remains aggressive, with ongoing acquisition plans to strengthen its portfolio. While it doesn’t seek total market dominance, its ambition to be the undisputed leader in business management software is clear.
With PHC now under its umbrella, Cegid is well-positioned to redefine the future of management software—not just in Portugal but across Iberia, Africa, and Latin America.
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