News and Analysis

News and Analysis (15628)

PRIVATE EQUITY GROUP BUYING SAGE PAYMENTS

Stephen Kelly at Sage SummiPrivate equity firm GTCR has agreed to buy Sage Payment Solutions for $260 million, a business that generates $150 million in annual revenue in North America. The deal is expected to close in the third quarter. Based in the United Kingdom, GTCR says it has committed up to $350 million of equity capital to the SPS platform.

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RANDOM THOUGHTS: KATHY GRIFFIN

Kathy GriffinThe first self-driving car has been pulled over for drunk driving. "Honest officer, I only had a couple of quarts of 40-weight. Hey why is that center line moving back and forth." ... Self-driving vehicles will also fundamentally change the way police patrol.

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XERO'S STEWART TAKES OVER SMALL BIZ

Tony Stewart, XeroChief data officer Tony Stewart is taking over leadership of Xero's small business products. The change was made as Xero announced Duncan Ritchie chief product and platform officer, his taking a sabbatical starting this month. Ritchie, who joined the New Zealand-based cloud company six years ago, will evaluate new roles within Xero later this year. The company said Ritchie led the recently completed platform migration to Amazon Web Services.

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TIW SAYS ALERE MORE THAN ERP

Rod Hatcher, TIW Corp.Alere has become more than an ERP package, according to Rod Hatcher, president of the TIW Corp., which markets the suite. Hatcher made the comments in discussing the roll out of a new TIW website.

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EPICOR RETOOLS PROPHET 21

Celia Fleischaker, EpicorEpicor has issued a new version Prophet 21 in a major rewrite of the ERP package for the distribution industry. Available this month, the new product is web-enabled. Epicor said it retained the workflow and core features of the prior version.

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QAD SUBS, LICENSES UP

Karl Lopker, QADQAD held to one industry pattern, but broke another as both subscription and license revenue rose by 33 percent for the first quarter ended April 30. The Santa Barbara, Calif.-based software vendor cut its loss to $2.6 million for the most recently quarter, down 8.6 percent from $2.8 million year earlier.

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WARAWA TAKES OVER SAGE CHANNEL

Jennifer Warawa, SageJennifer Warawa has become EVP of partners, accountants, and alliances as Sage shuffled people and executive titles this week. She takes over a position previously held by Alan Laing, who has become managing director for the United Kingdom and Ireland.

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FINANCIALFORCE PUSHING CHANNEL

Fred Studer, FinancialForceFinancialForce is a readying an effort to give its nascent channel more visibility. For one, the cloud company has invited me to its CommunityLive 2017 conference mid-June in Las Vegas. Also the hiring of Fred Studer in March as chief marketing officer suggests that since he was been involved with organizations with active channels.

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INTUIT REGISTERS STRONG 3Q

IntuitThe only thing standing between Intuit and growth in net income for the third quarter ended April 30 was taxes. The company had operating income of $1.4 billion, a rise of 12.4 percent in the third quarter of fiscal 2016. After taxes, that dropped to earnings of $964 million, down 6 percent from slightly more than $1 billion in last year's corresponding period.

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RANDOM THOUGHTS: WONDER WOMAN

Art by Doug Braithwaite and Alex RossI am wary of the move towards consumerization since so much I have seen makes instruction very cartoony. I just saw this at a medical center: "You've just lost a leg. Before the doctor tries to sew it back on, here is some helpful information you ought to know.

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