News and Analysis

News and Analysis (15669)

EDGEWATER BUYS ORACLE PARTNER

Shirley Singleton, Edgewater Technologies Edgewater Technologies has acquired M2 Dynamics via, an Oracle Platinum Partner for $16.1 million in cash. The deal is an asset acquisition. M2 will join Edgewater Ranzal, the Oracle segment of the business of Wakefield, Mass.-based Edgewater. The Edgewater folks have been busy with CEO Shirley Singleton reporting her organization had been working on the transaction for several months—a brief overview says May.

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BSI: COMBINED HOLIDAY NEWSLETTER

SantaChristmas and New Year's Day are both on Fridays this year. Figuring that readers don't want to read that day and I don't want to work that day, there will be one issue of the Bob Scott's Insights newsletter published on Wednesday, December 30. Items will continued to be posted to the website as warranted by events. So here's hoping that Santa includes M&A activity for the year-end to help keeping that issue from being too dreary. Happy Holidays from me and the gang at Progressive Media Group.

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AVALARA NAMES CFO

Bill Ingram, AvalaraAvalara has named Bill Ingram as CFO. And the credentials the sales tax software company stresses in the press release announcing the hiring are just the things you would expect to need for an organization that might go public. According to the release, Ingram's experience includes "fund-raising (both private and public capital), SEC reporting, investor communications, strategic partnerships and M&A."

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IFS AGREES TO BUY OUT

Alastair Sorbie, IFSIndustrial and Financial Systems, which markets enterprise-level software, has agreed to a buyout from private equity group IGT Holding. While the Swedish-based ERP company is outside of the usual kinds of software vendors covered here, it joins a steady stream of financial software providers that have been taken out of the publicly traded market by the private equity interests. The deal is worth about $1.1 billion.

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SIMPRO SEEKING VARS; GEM ACCOUNTS?

Ken Del Gobbo, simProSimPro, which owns Gem Accounts, is recruiting a reseller channel in the United States. It has hired Ken Del Gobbo, who has been president of Gem Accounts since October 2013, as VP of partnerships for North America to enlist VARs for simPro's job management software. That leaves the question of what is going on with Gem Accounts, which launched small business and mid-market versions of its accounting software two years ago?

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ABILA HIRES DEVELOPMENT EXEC

Lars Powers, AbilaNon-profit software vendor Abila, based in Austin, Texas, has hired Lars Powers as VP of software development. He was previously director of application development for Austin-based Newgistics from December 2014 until this month. He served as software development manager for the Austin office of 3M Health Care from August 2011 through November 2013.

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HITACHI SOLUTIONS BUYS IGNIFY

Sandeep Walia, Ignify Hitachi Solutions America has acquired Ignify in the next step in the consolidation of the Dynamics AX market. With $24 million in revenue, Ignify was No. 22 on Bob Scott's Top 100 VARs for 2015. Ignify was founded in 1999 by Sandeep Walia and Pankaj Kumar and sells Dynamics AX, CRM and AX for Retail Point of Sale. Hitachi Solutions does not break out numbers and that means Ignify gets subsumed into the larger company and that's the last we'll have on any details there.

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MACOLA 10.3 NOW AVAILABLE

exact newBefore new management came to town, there was no new version of Macola released in 10 years. Now, Exact has gone from introducing Version 10 last year to Exact Macola 10.3 this month. Features include integration with Avalara's sales tax software, AvaTax. Exact has added Windows 10 support and Spanish language support throughout the product. The company says this bolsters its recent focus and expansion within Latin America.

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INFOR: WE WIN MORE WITH SAAS

Charles Phillips, InforInfor says more than 50 percent of deals in its pipeline are for SaaS products. And because it has been winning a higher percentage of SaaS deals than it does with on-premise, it expects its win rate to rise, CEO Charles Phillips said in the company's recent earnings webcast. In discussing results for the first quarter ended October 31, "Our pipeline is up double digits," Phillips said. SaaS revenue could top 50 percent of the total next year if the trend continues.

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BLACKBAUD EXTENDS CEO'S JOB

Mike Gianoni, Blackbaud The contract of Blackbaud CEO Mike Gianoni has been extended for four years and he has been granted some plump rewards. Gianoni's salary was raised to $700,000 annually, up from a $600,000 based and he was granted a restricted stock grant of the Company's common stock valued at $5 million, which vests on Dec. 31, 2019 if he is still employed. The announcement by the nonprofit software publisher credited Gianoni with "a rapid wave of innovation within its product portfolio, significantly improved client satisfaction, and has experienced more than 60-percent growth in its stock price."

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