The company would probably come to rest in the $100 million to $200-million revenue range. But as for reaching levels like $1 billion in revenue, Acumatica needed to be part of a bigger operation “for us to play in that game,” hhe said. It’s classic economics and consolidation. When Roskill joined the company in 2014, he found there were 35 cloud ERP companies. “I looked a couple of months ago, 30 of them are gone.” Certainly, the most visible—Acumatica, Intacct and NetSuite—were all acquired. EQT also owns IFS, which operates in the Nordic countries. The products won’t be combined—but there is development of specialize products, like an IFS indirect tax package for Portugal, which Acumatica won’t have to recreate from scratch. Acumatica will also be able to share facilities—it will be able use offices in England to have “a couple of people in London in a couple of weeks,” Roskill said, adding, “We can leverage global support centers.” The deal brought some interesting relationships. Acumatica has expanded by letting companies in other countries market financial applications based on its platform. In the case of Visma, a player in the Nordic countries, and MYOB, operates in Australia and New Zealand, they took equity positions in Acumatica. Visma sold out but MYOB, recently acquired by KKR, keeps a piece. Roskill said the deal was that KKR, which owns Epicor and Exact, will have an MYOB person on the Acumatica board.Last modified on Wednesday, 26 June 2019
ROSKILL: A NECESSARY DEAL Featured
Acumatica’s acquisition recently by Sweden-based EQT Partners was put in play with last year’s purchase of Intacct by Sage, according to Acumatica CEO Jon Roskill. “We could continue to operate independently and be moderately interesting,” he said this week.