News and Analysis

News and Analysis (15701)

XERO LOSS FLAT; REVS UP 48%

Rod Drury, XeroXero held its first half loss even at roughly $32 million for the first half ended September 30. Revenue for the New Zealand-based cloud software company rose to just under $100 million, up 48 percent from last year's corresponding period. Perhaps the most important numbers are the increase of subscribers since March 30.

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ACCUFUND INTROS PAYMENT PORTAL

AccuFundAccuFund has introduced a Web Payment Portal that integrates with the AccuFund Accounting Suite. The portal integrates with both the Accounts Receivable and Utility Billing modules of the nonprofit software suite. Payments made through the portal are automatically updated in the suite database.

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BLACKBAUD REPORTS "SOLID QUARTER"

Mike Gianoni, Blackbaud Blackbaud has reported double-digit increases for both net income and revenue for the third quarter on September 30. CEO Mike Gianoni said during this week's earnings webcast it was a "solid third quarter, positioning us well to finish the year and achieve our 2016 financial guidance, which we updated to increase the cash flow component."

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XERO SHAKES UP EXECUTIVE RANKS

Keri Gohman, XeroXero will have its third head of American operations in two years when Keri Gohman takes over as president of the Americas in December. Gohman replaces Russell Fujioka, who was been with the cloud software company, since February 2015. Meanwhile, chief marketing and revenue officer Andy Lark, based in Australia, is also leaving after two years and two months in his job.

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INVESTOR NAMES PRICE TO OK NETSUITE DEAL

netsuiteT. Rowe Price Associates has named its price to accept Oracle's bid for NetSuite. The investment firm, which has Oracle and NetSuite over a barrel, said it in a letter dated October 27 it would tender its holdings for $133 per share. However, in a document filed this week with the SEC, Oracle stood by its price of $109 per share. That's a 22-percent difference and we've got until midnight Friday, November 4 before Oracle withdraws its offer.

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SAGE GOING FOR REGIONAL SUMMITS

Sage is planning to hold regional Summit conferences next year. This seems to be a move to replace the large Summit show with smaller regional events. The statement from Sage in England, as we say in the press business, neither confirmed nor denied the report.

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ACUMATICA INKS TWO MORE OEMS

Acumatica has signed agreements with two more software companies for the use of its cloud platform as the engine for their applications. One company that has licensed the Acumatica Cloud xRP Platform is MedWorks, which offers clinical and ambulatory software services.

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SYSPRO NAMES CANADIAN SALES VP

James Weir, Syspro Syspro has named James Weir as VP of sales for its Canadian business. This is the second item I've written about a Syspro hire this month. That's about the same number of items written for the three years before October about Syspro personnel changes. Weir takes over on November 1 He joined from Identos where he was VP of sales for the Americas.

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NXTURN'S MCGEE JOINS VESTED GROUP

Dave McGee, The Vested GroupDave McGee, a founder and partner of NXTurn, has joined The Vested Group. Both organizations are NetSuite resellers. McGee was with NXTurn, which is based in Fort Lauderdale, Fla., from April 2012 through April 2016 and joined the new employer last month. NxTurn is headed by executive director and CTO Tony Hill and executive director and CFO Julie Fitzpatrick. The Vested Group is based in Plano, Texas.

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INTACCT TARGETS GOING PUBLIC

Robert Reid, IntacctIntacct hopes to make an initial public offering in the next year. The statement was made this week by Robert Reid, CEO of the cloud software company, at its Advantage conference this week. "If we don't go, it won't be because of us," Reid said, explaining market factors and politics could thwart the plan but Intacct will ready to go.

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