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QUISITIVE REVS JUMP 107 PERCENT Featured

Canadian reseller than Quisitive more than doubled its revenue for the second quarter ended June 30, while sharply cutting its loss. The two major business segments each more than doubled sales from year-earlier levels.

The loss dropped to $580,000 for the most recently ended period, down from $2.9 million a year ago. Revenue reached $47.6 million, compared to slightly less than $23 million in last year’s corresponding period. Quisitive’s Global Cloud Solutions—mainly its Dynamics business—reported revenue of $35.3 million, more than double about $71 million a year ago. Also doubling year-to-year was revenue for Global Payment Solutions, jumping to $14.4 million from approximately $6 million. The cloud business increase reflects the incorporate of Dynamics reseller Catapult Systems last fall, while the growth in the payments business fed on such factors and receiving Visa certification for its LedgerPay platform. "The continued success of the cloud business was centered on ramping up cross-sell and upsell opportunities since the Catapult acquisition to build upon our momentum in capturing significant share in the growing global cloud,” CEO Mike Reinhart said in a preparer statement.

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