News and Analysis

News and Analysis (15701)

AVALARA AWARDS FAVOR SIZE

AvalaraAvalara's awards for its 2014 Top Performing Partners show that size has a lot to do with performance. The Top Accounting & Consulting Partner of the sales-and-use tax software company was McGladrey and the Top Marketing and Sales Partner was Tribridge. In last year's Top 100 VARs section, McGladrey was No. 1, taking over the top spot with the disappearance of Tectura from the market, and Tribridge was No. 2, and it seems unlikely that those positions will change for the 2015 selection.

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BRISBANE TOPS ACCUFUND AWARDS

Brisbane Consulting GroupThe Brisbane Consulting Group won top honors as AccuFund handed out its 2104 Partner Leadership awards recently. The NonProfit Solution Division of the Buffalo, N.Y.-based company was volume sales leader overall and volume leader in non-profit sector sales and online sales. Brisbane also has a consulting division that offers business consulting, business valuations, forensic accounting, and litigation support. Mountaineer Computer Systems of Lewisburg, West, Va., which had the top spot in 2013, was volume leader in government sales for last year.

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RANDOM THOUGHTS: MIKE LOVE

Mike Love, Beach BoyThe old men of Rock n' Roll, Rolling Stones, are preparing for the Zip Code tour. That will be followed by the Assisted Living Tour. Who knew that a career of chemicals and groupies would prove beneficial to the older active adult lifestyle? Who envisioned that at this point there would be more original Rolling Stones alive than original Beatles? The Stones tour announcement reminds me of a joke by Jay Leno on the tonight show in commemorating the one hundredth anniversary of the founding of John Phillip Sousa's band.

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EXACT SHARES DELIST; AND A LESSON

Shares of Exact Holding stopped trading on March 31 as its purchase by Apax Partners kicked in. Presumably, we will start seeing some changes under the new owners. The fact Exact is no longer public is something that was obviously going to happen with the purchase. But it emphasizes the role of private equity in this market, shown by the number of news items in this newsletter that involve private equity ownership of business software.

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NEXONIA READIES SL PORTAL

Neil Wainwright, NexoniaNexonia is developing a product that would replace the discontinued Business Web Portal for Dynamics SL 2015. The company, whose products include expense reporting that integrates with a wide range of accounting software applications, says the portal will be ready for deployment in the early summer. Available for 10 years, the Microsoft portal was discontinued in September and Nexonia, based in Toronto, Ontario, had already developed a replacement for Dynamics GP.

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TAX COMPANIES BECOME SOVOS

Andy Hovancik, Sovos ComplianceTax software companies Convey Compliance Systems, Taxware, and VAT Resource have become Sovos Compliance. This is one of those deals brought about by private equity. The convergence of the businesses began in December 2012 when Vista Equity Partners purchased Taxware and brought in Andy Hovancik as CEO. Taxware purchased VAT Resource a year ago and the merged Convey and Taxware during the summer. The combination brings together business that offer 1099 reporting, sales and use tax and value-added tax determination and compliance.

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AQB CHANGES TO FOURLANE

Marjorie Adams, FourlaneIntuit reseller AQB has changed its name to Fourlane. The Austin, Texas, based company said it made the move to eliminate any brand confusion by removing the QB initials from its name. “While offering QuickBooks consulting is still a large part of our business, establishing our new, independent name allows us to better distinguish ourselves and our services," CEO Marjorie Adams said in a prepared statement.

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RETAIL PRO IN ECOMMERCE DEAL

Kerry Lemos, Retail Pro International Retail Pro International has entered a partnership with 24Seven Commerce, which offers ecommerce services to retailers. The alliance makes the Retail Pro system available to specialty retailers. Designed for brick-and-mortar operators, 24Seven's cloud products connect to the Retail Pro retail management system. The combination provides a platform for managing in-store and online operations, including integration between Retail Pro, eBay and Amazon.

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U.K. SOFTWARE GROUP GOES PRIVATE

Brian Sheth, Vista Equity PartnersThe Advanced Computer Software Group, a holding company based in the United Kingdom, has gone private. The company was purchased for about $1.1 billion at the end of March by Vista Equity Partners, whose goal is to make Advanced a global player. Advanced owns several business software companies, most of which do not operate in the United States. These include four financial software lines: e5, eFinancials, OpenAccounts and Exchequer. It also has V-1, a company that markets Professional Services Automation software, and Advanced 365, whose cloud and hosting services has some U.S. presence.

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MYOB GOING PUBLIC (AGAIN)

Tim Reed, MYOBThe MYOB Group has filed for an initial public offering in Australia. The offering is expected to raise proceeds ranging from about $632 million to about $633 million and will return the company to the public market after six years in private hands. MYOB is owned by Bain Capital, which will not sell shares and which will hold about 57 percent of the shares after the offering. The name MYOB goes back to the Mind Your Own Business, software that originated in Rockaway, N.J.

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