News and Analysis

News and Analysis (15677)

INTACCT GETS $40M DEBT FINANCING

 Robert Reid, Intacct Cloud software vendor Intacct has secured $40 million in financing through a new debt facility from Silicon Valley Bank. "When you are looking at long-term growth, you always have to watch the market and sometimes you take in money before you actually need it to ensure you have the flexibility to take advantage of new opportunities when they arise," CEO Robert Reid said in a prepared statement.

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SAGE 50 BEHIND FIRST HALF GROWTH

Stephen Kelly, SageCloud versions of Sage 50, which is really different products in different companies, drove revenue growth for Sage's first half ended March 31. And subscriptions continued to rise as license revenue fell—the latter off 9 percent in the United States. Overall, executives were in a good mood about results. In this week's earnings webcast, CEO Stephen Kelly said the company achieved "double-digit recurring revenue growth for the first time this decade."

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NAVIGATOR GETS INVESTMENT

Grant Fraser, Navigator Business SolutionsThe Alerion Capital Group has made what was described as a major investment in Navigator Business Solutions. Navigator, based in Salt Lake City, Utah, is an SAP reseller and has been SAP Cloud Partner of the Year every year since 2009. "The investment by Alerion will help us advance and accelerate our highly regarded cloud first methodology to a broader reach," CEO Grant Fraser said in a prepared statement.

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BOOMER CONSULTING CHANGES BOOMERS

L. Gary Boomer , Boomer Consulting Boomer Consulting has named Jim Boomer as CEO to succeed his father and founder, L. Gary Boomer. The Manhattan, Kan.-based firm also selected Sandra Wiley as president, Dustin Hostetler as chief innovation officer, and L. Gary Boomer as visionary and strategist. "This shift in leadership represents the roles each of our leaders have played over the last several years and will allow Boomer Consulting to better focus on strategic growth," L. Gary Boomer, said in a prepared statement.

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SAGE VET SMITH STARTS BIZ

Brad Smith, Vector Business NavigationBrad Smith, who held important executive positions with Sage North America, has started a new business. His company, Vector Business Navigation, was founded in September, but only recently popped up when Smith changed his LinkedIn profile. Smith's profile said he "Created a suite of service offerings and tools to diagnose, design and deliver strategic multi-year CX transformations".

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NET@WORK ACQUIRES DRESSER

Alex Solomon, Net@Work Continuing to grow its business segments outside of financial software, Net@Work has acquired Dresser & Associates. Dresser, based in Scarborough, Maine, has been a frequent member of the Sage President's Circle and has about 600 customers. "For us to be an amazingly good HRMS shop, we needed to expand our acquisition strategy," Net@Work co-president Alex Solomon said this week about the deal.

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SERVICE BOOSTS EDGEWATER RESULTS

Timothy Oakes, Edgewater Technology Executives of Edgewater Technology, which owns the Fullscope reselling business, said this week they were happy with the results for the first quarter ended March 31. The loss was down and acquisitions brought increased service revenue that hiked the top line. A loss of $763,000 in the most recently ended quarter was better than the $940,000 in red ink a year ago.

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WIPFLI BUYS BRITTENFORD

Shereen Mahoney, Brittenford SystemsAccounting firm Wipfli has acquired Reston, Va.-based Brittenford Systems. As with the recently announced purchase of BCG & Co.—including its BCG reselling and consulting operations—by Sikich, we have an accounting firm in the Bob Scott Top 100 VARs, acquiring another member of the Top 100. In the 2015 list, the reselling and consulting portion of Wipfli was No. 11 with $37 million in revenue while Brittenford was No.90 with $4.82 million.

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WILSON SCHOLARSHIP STARTED

The late George Wilson Jr.The George Wilson Jr. Scholarship Fund has been established to honor George Wilson, a founding member of the Information Technology Alliance. Wilson died in November. The fund was established by Bergeson & Campbell P.C. and its affiliate The Acta Group, which was a client of Wilson's IT consulting practice for more than 16 years. Lynn L. Bergeson, managing partner of Bergeson & Campbell, said over that time Wilson filled the CIO and CTO functions for the firms.

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INTACCT'S SILVER JOINS MICROSOFT

 Mike Silver, MicrosoftMike Silver, who worked as a partner enablement manager at Intacct, has joined Microsoft. Silver's LinkedIn profile shows he joined Microsoft this month. His profile does not give a title but says he is "Assisting Microsoft Dynamics Partners with their Business Growth, Strategy and Success". He was with the cloud software vendor from August 2013 through April.

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