Other companies using Acumatica technology as a base for their software include Australia-based MYOB. For Visma for the third quarter ended September 30, profit after tax dropped to about $31.5 million, a decline of 12 percent from a year earlier. Revenue for the most recently period reached roughly $264.6 million, an increase of 18.4 percent from the third quarter in 2016. Visma noted that during the period "The company made its most significant transformational acquisition to date by acquiring Bluegarden." Financial results" did not break out figures for Visma.net. However, Visma reported that "Saas and Saas transactions continue to be the strongest driver of organic growth ..." CEO Øystein Moan said in a prepared statement, "Our customers increasingly prefer subscription-based models to large up-front investments, and we are continuously launching new SaaS products."