Intacct's revenue was $88 million for the 12 months ended June, growing 33 percent a year. If it grows by same amount this year, it would hit $117 million next June—so not ready for an IPO for several months, It was clear from its 2015 conference Intacct was under pressure to grow revenue significantly. Intacct also to make money: Sage CFO Stephen Hare referred the cloud company's pre-tax loss at $20 million. Although Intacct cut G&A expenses from 19 percent of revenue in 2015 to 15 percent this year, there was a long way to go. Last year, Intacct borrowed $40 million, pushing off an IPO as CEO Robert Reid said the cost of borrowing was lower than the cost of an offering. And while Intacct has a reputation as a good, basic application, the consensus is it lacks depth. One bet is Sage will replace Live with Intacct; both are cloud based. The purchase gives Kelly an established line to grow—he had said at in May that the produce line would be filled through acquisition—instead of relying on the unproven Live. And he can fill out the line through more purchases.