News and Analysis

News and Analysis (15708)

SWK: NO GO ON VICOR DEAL

Jeff Roth, SWK TechnologiesSWK Technologies has dropped its effort to buy Vicor Business Services of Bethesda, Md. It's the second SWK deal to be put on hold in the last year. The parties signed a letter of intent in June which expired on July 31 and according to the 10-Q for the June quarter filed by SWK's parent, SilverSun Technologies, were still negotiating. However, this week, SWK CEO Jeff Roth said that "SWK has decided to defer its discussion with Vicor to a later date so there is no deal that is imminent."

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MHANCE SEEKS CHANNEL MANAGER

mhanceBritish Microsoft reseller m-Hance has been advertising for a channel development manager. The recent advertisement says the job's purpose is to generate business for the sale of m-Hance's application software in the United Kingdom and outside that country. It's not appearing now on the Career section of the reseller's website. But its appearance goes along with the increasing movement towards marketing its own products in this country.

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DPI GETS INFOR ALL STAR AWARD

Walter Goodfield, InforDPI Information Services was chosen at the All Star Performer at this year's Infor Partner Summit. The Tampa Bay, Fla.-based company handles Infor10 Express and Infor10 Business. Infor named Copley Consulting Group of East Greenwich, R.I., as Manufacturing Partner of the Year for the second straight year. Copley sells Infor's SyteLine system. The Distribution Partner of the Year award went to Expertek Systems, Marlborough, Mass., which markets the InforI0 Ion Suite and Infor Storefront. A Visual ERP organization, Synergy Resources of Central Islip, N.Y., took home the award for Most Net New Accounts. Avaap of Iselin, N.J., which provides consulting services and markets applications for the Lawson market, was Services Partner of the Year. Incidentally, Infor sees its channel strategy as doing well.

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EXACT DROPS DOS VERSIONS

Erik Van der Meijden, ExactThe statement that Exact has killed the DOS versions of its software is not new that will set the world trembling. The mention was one of the facts dropped by CEO Erik Van der Meijden during a recent earnings webcast. He described that as "a painful step" and said it was taken because of the latest version of SQL Server. What the issue reminds is that while we talk about the move to the cloud and the latest and greatest technology, there's a part of the world that is anything but up-to-date.

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SWK PARENT PROFITS, ADDS CASH

SilverSun Technologies, parent of SWK Technologies, reported net income of $62,185 for the second quarter ended June 30, largely attributable to a sharp drop in share-based compensation. The earnings compared to a loss of $334,031 in last year's corresponding period. The company was able to increase G&A and R&D spending, but overall expenses fell as the shared-based pay dropped to $4,404 in the most recently end period, compared to $408,183 a year earlier.

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INTACCT AND KEYEDIN ALLY

Lauri Klaus, KeyedIn SolutionsIntacct has allied with KeyedIn Solutions to integrate the latter's cloud-based project management software into Intacct. It was the first time KeyedIn, based in Minneapolis, Minn., has partnered with an accounting software vendor. Along with San Jose, Calif.-based Intacct, the integration is designed for professional services and project-based businesses. The integration will include Intacct Project Accounting.

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EXACT SLOWS CUSTOMER LOSS

 Erik van der Meijden, ExactThe message for Exact's first half ended June 30 was not the brightest news, but it was an improvement. The company has reduced the rate at which it is losing customers. "We have seen an improvement in the attrition rates in all businesses," chief executive Erik van der Meijden said in an earnings webcast. And in the Americas that meant a decline in revenue for Job Boss, Macola and Max. The Job Boss numbers were disappointing since it had been a doing better. Exact is staking its future on its Exact Online product, which is moving into the United States in beta form. In the meantime, it improved profitability despite a decline in revenue for the period just reported. Net income was about $20 million, a 56.2-percent increase from last year's first half. That improvement was accomplished by cost cutting stemming from last year's reorganization. However, the company boosted sales and marketing spending. Revenue of roughly $140 million for the most recently ended period was off by 3.2 percent from a year ago. Specialized Solutions had revenue of about $51.8 million, a 5.5-percent drop. That category includes the three American manufacturing products, Longview and Lohn. Profitability also fell with EBIDTA declining 14.4 percent to about $8.4 million. Americas revenue was around $30 million. All figures are in constant currencies

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EDGEWATER PROFITS UP SHARPLY

Tim Oakes, Edgewater Technology Edgewater Technology registered a sharp increase in net income on a slight increase in revenue for the second quarter ended June 30. Net income rose to $1.4 million, up from $134,000 a year earlier. A big factor in the rise in profit was the drop in expenses involving an embezzlement that occurred at Fullscope before it was purchased by Edgewater.

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QLIKTECH RAMPS UP FOR LAUNCH

Lars Bjork, QlikTechBusiness analytics vendor QlikTech registered a sharp increase in its loss for the second half ended June 30 as the company ramped up for a new product launch. The loss rose to $8.1 million for the most recently ended quarter, compared to just over $2 million a year earlier. That came as spending for hiring and R&D boosted operating expenses by 30.1 percent.

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EPICOR PICKS RETAIL VP

Noel Goggin, Epicor SoftwareEpicor Software has named Noel Goggin as SVP and general manager of its retail solutions business. He takes over the spot held by Paul Salsgiver from September 2008 through July. Salsgiver's LinkedIn page shows he moved to IBM Gobal Business Services this month where his title is VP and partner in the Global Workday Practice.

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