News and Analysis

News and Analysis (15657)

XERO PUTS CFO IN U.S.

Gregory Volm, VP U.S. sales, XeroXero showed the emphasis it puts on the market in the United States as it hired a new CFO who will be based in San Francisco. The New Zealand-based published cloud accounting software this week said it has hired Douglas Jeffries as CFO with the prior person in that role, Ross Jenkins, moving to the newly created position of COO. Xero also announced the hiring of Gregory Volm, who had previously been senior director of North American sales for Zendesk, as VP of U.S. sales.

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NETSUITE TO BOOST INTERNATIONAL

Ron Gill, NetSuite NetSuite has international growth on its plate for 2015. "We have significant expansion plans overseas this year, " CFO Ron Gill said during this week's 2014 earning webcast for the year ended December 31. He did not give much detail but noted NetSuite would add two data centers in Europe for backup and to serve the market there. NetSuite plans to open another center in this country.

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NETSUITE PICKS UP SAGE VARS

Eddie Solomon, Net@WorkNetSuite has announced VAR signings, the most notable of which is of New York City-based Net@Work. Since that company had been advertising NetSuite on its website since mid-December, the news this week this was not a surprise. But this officially removes the largest remaining Sage-only VAR from that camp. In its submission for this year's VAR Star selection Net@Work said it had $34.5 million in annual revenue.

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SAGE: ORGANIC REVS UP 5.3 PERCENT

Stephen Kelley, SageSage's organic revenue increased by 5.3 percent for the first quarter ended December 31. Sage issued the statement this week as part of its first-quarter trading update.  But North America has been hampered by weakness in the payments business, which CFO Steve Hare said during a conference call comprises about 20 percent of revenue on this continent. Sage expects the business in general and payments specifically to improve in the second half.

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EXACT SHAREHOLDERS APPROVE SALE

Roy Mackenzie, Apax PartnerShareholders of Exact Holding have approved the sale of the company's assets to funds managed by Apax Partners. The action at this week's extraordinary meeting also approved the dissolution of Exact as it has existed and the supervisory board of directors will replaced as of the settlement date. Exact has at least one more set of public numbers to report with the release of financial results for the year coming next week.

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QAD RAISES $37.1 MILLION

Karl Lopker, QADManufacturing software company QAD raised about $31.7 million from the sale of 2 million shares of stock this month. Another 1 million shares of Class A common stock were sold by controlling shareholders Karl F. Lopker and Pamela M. Lopker through their living trust. The price was $20 per share with the underwriters holding a 30-day option to purchase another 450,000 shares. Karl is CEO and Pamela is chairman and president.

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RANDOM THOUGHTS: BELICHICK

Bill Belichik, New England Patriots The world is such a hostile place—people of differing views who are unalterably opposed to each other, refusing to acknowledge any good in the other side. But enough about the President and Congress, there are some real issues in the Middle East. … Just ordered a new pair of ice skating boots. They did not have my size in stock for figure skating boots. But there were a number of lovely dresses available that fit me. Johnny Weir, look out!

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NAVIGATOR PICKS UP SAP HONOR

Grant Fraser, Navigator Business SolutionsNavigator Business Solutions has been received the North America Partner Excellence Award 2015 in the category “SAP Cloud Resell." The award was one of many handed out this week in San Diego, Calif., North America Partner Excellence Award 2015 in the category “SAP Cloud Resell." The awards were given, as the always are, at the year’s Field Kick-Off Meeting. Grant Fraser, owner of the Pleasant Grove, Utah-based firm, said this was his firm's tenth consecutive award as a top partner.

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UXC RAISES GUIDANCE

UXCAustralia-based UXC, which operates in this country via reseller UXC Eclipse, has raised its guidance for the first half of 2015 ended December 31. The company based its decision on what it called "a solid first quarter and in light of a strong performance in November and December." The change included earnings that are substantially about the guidance given at its annual meeting in November. UXC had said revenue would be more than 8-percent higher than the $231.1 million reported in the first half of fiscal 2014.

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ARMANINO PICKS PRECISIONPOINT

Tom Mescall, ArmaninoArmanino has become the exclusive North American distributor for PrecisionPoint, which provides business intelligence functions for Dynamics AX and GP. As a part of the deal, the North American PrecisionPoint staff has joined Armanino's consulting team. Tom Mescall, Armanino's partner in charge of consulting, said the San Ramon, Calif.-based firm had utilized PrecisionPoint's data warehouse in building its Dynamics Insights reporting and analysis package.

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