News and Analysis (15706)
SAGE WINS SUIT OVER MYOB DEAL
- Friday, 28 August 2015
- News and Analysis
- Written by mark
A suit by former shareholders of MYOB against the Sage Group has been dismissed. Sage said this week. Sage, based in the United Kingdom, was in talks to buy MYOB, based in Australia, in 2011. However, Sage pulled out of the negotiation. Funds advised by the Archer Group , which then were MYOB shareholders, initiated the lawsuit. MYOB was then purchased by Bain Capital. Reports at the time said the Bain offering was about $100 million (Australian) less than what Sage had offered. Sage issued a press release that statement all claims were dismissed on all counts and Sage would take action to recover costs it incurred in its defense.
FINANCIALFORCE OPENS CHICAGO OFFICE
- Friday, 28 August 2015
- News and Analysis
- Written by mark
FinancialForce.com has opened an office in downtown Chicago, Ill., joining the San Francisco, Calif., company headquarters as its sites in the United States. The company expects there will be 40 employees in the new location by the end of 2015 and that it will become a major U.S. hub supporting functions from sales to marketing and consulting. The press release announcing the opening said the site would be important for supporting the customer base. The company, which received $110 million in funding in March, expects to employ 700 people by year's end.
CRESTWOOD ACQUIRES VISION BUSINESS
- Thursday, 27 August 2015
- News and Analysis
- Written by mark
Crestwood Associates, a Mount Prospect, Ill.-based Dynamics and Acumatica reseller, has acquired Oak Park, Ill.-based Visions Business Solutions. VBS, which has 10 employees, carries Sage 500, Acumatica and Greentree ERP (a line I must admit to not having heard of). Crestwood was No. 47 on Bob Scott's Top 100 VARs for 2015 with $10.2 million in revenue and a staff of 48. John Gabrys and Joel McDonnell, owners of VBS, join Crestwood as directors. Gabrys, now director of sales, has been a partner at VBS/ERP Visions since August 1984 and a director since January 2002.
CLOUD SUBS DRIVE MYOB REVENUE
- Thursday, 27 August 2015
- News and Analysis
- Written by mark
In its first report since going public again, Australian software company MYOB saw 65-percent growth in cloud subscriptions over the last year. MYOB made the statement in reporting results for its first half ended June 30. The company lost $46.2 million, a rise of 112.9 percent from the red ink for last year's corresponding period. Revenue for the most recently ended period was $114.3 million, an increase of 14.2 percent from a year earlier. MYOB pointed to important product introductions that included MYOB Advanced—which is Acumatica.
ACUMATICA REPLACING DUFFY WITH JANI
- Wednesday, 26 August 2015
- News and Analysis
- Written by mark
Channel head Richard Duffy is leaving his position at Acumatica to return to Australia. Acumatica cited family reasons for Duffy's decision to leave the cloud software company, which he joined in April 2014 as VP of partner strategy and enablement, and product evangelist. He is being replaced by Ali Jani, who has served as VP product management and services since 2010. Jani's new title is VP of partner strategy, enablement and services, effective immediately.
TRIBRIDGE PICKS UP NETSUITE
- Monday, 24 August 2015
- News and Analysis
- Written by mark
NetSuite has scored a major coup with the addition of Tribridge as a reseller. With $130 million in annual revenue Tribridge was No. 2 on Bob Scott's Insights Top 100 VARs for 2015 and the No. 1, McGladrey, is also a NetSuite dealer. Tribridge, which carries all four Dynamics ERP packages, has stellar credentials. The Tampa, Fla.-based reseller was named 2015 U.S. Microsoft Dynamics Outstanding Partner of the Year at the Worldwide Partner Conference this month. The business was the top global VAR in 2008, 2010, 2012 and 2013 and the top U.S. reseller in 2007.
QB ONLINE TOPS 1M SUBS
- Friday, 21 August 2015
- News and Analysis
- Written by mark
Intuit had already announced this but the financial results for the year ended July 31 show the number of QuickBooks Online subscribers topping 1 million for the first time in a quarter. The software company ended the year with 1,075,000 subscribers, an increase of 57.4 percent over fiscal 2014. The July 31 total was 110,000 higher than the subscription number when the third quarter ended on April 30, an 11.4-percent rise from the prior quarter.
SOVOS ADDS COO AND CFO
- Friday, 21 August 2015
- News and Analysis
- Written by mark
Indirect tax specialist Sovos Compliance has hired Andy Zupsic as COO and Jack Walsh as CFO. Zupsic was most recently SVP of global field operations of Progress Software from April 2012 through September 2014. Before that he was SVP of Americas enterprise sales for Juniper Networks from September 2009 through April 2012. From 1999 through September 2009, he worked at Microsoft.
BMI SPURS COLUMBUS GROWTH
- Friday, 21 August 2015
- News and Analysis
- Written by mark
A couple of months ago, I had an involved conversation with someone from Columbus, the Danish Dynamics reseller, about the impact of Interdyn BMI on the company's financials. This week's webcast of results left no doubt. CEO Thomas Honorè pointed to areas in which Minneapolis-based BMI, purchased by Columbus in February, was a major factor. A 15-percent increase in consulting revenue was "largely driven by Interdyn BMI in the U.S.," he said. Overall, Columbus had net profit after tax of about $3.9 million, an increase of 47.9 percent from the first half of 2014.
INTUIT SELLING QUICKEN, Q-BASE, D-FORCE
- Thursday, 20 August 2015
- News and Analysis
- Written by mark
Intuit plans to divest the product that gave birth to the company, Quicken. The company revealed its plans in this week's fiscal 2015 conference call in which CEO Brad Smith said Intuit will also sell Demandforce and QuickBase. "Quicken is a strong, healthy business and remains America's No.1 personal finance software," Smith said. But he noted it is a desktop package "that does not strengthen the small business or tax ecosystems." Intuit displays the kitchen table at which Scott Cook conceived the first thought that led to Quicken after his wife complained about trying to balance her checkbook. I wonder if the buyer has to take it. (Just kidding.)
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