News and Analysis

News and Analysis (15700)

PROCORE TO TOP $1 BILLION

Procore Technologies expects to top $1 billion in revenue for the year ending December 31. The company noted its 2024 guidance in its recent earnings webcast for the second quarter ended June 30.

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PHELAN TAKES VERSAPAY JOB

Channel veteran Tim Phelan has become director of channel sales for VersaPay. His LinkedIn profile shows he took the job with the payments software company last month. 

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CHERRY BEKAERT BUYS  KERR

Accounting firm Cherry Bekaert has acquired Kerr Consulting, a Woodlands, Texas-based Sage reseller in a busy year for M&A activity in the ERP VAR market. Terms were not disclosed for Kerr, which was a portfolio company of Proviso Capital.

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BENMALEK JOINS CONNECTWISE

Aziz Benmalek, who was president of the Sage Group, has joined ConnectWise as chief business officer. Benmalek joined the company last month.

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AVIDX REBOUNDS TO PROFIT

AvidXchange rebounded to a profit of $436,000 for the second quarter ended June 30, compared to a loss of $18.8 million a year ago.

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DYNAMICS REVS UP 16 PERCENT

 Microsoft reported Dynamics revenue for the year ended grew by 16 percent over fiscal 2023 levels with Dynamics 365 up by 19 percent year over year.

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ACUMATICA PICKS TOP ENGINEER

Acumatica has hired Miten Mehta as its first chief engineering officer.

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BLACKBAUD COULD SELL EVERFI

 Blackbaud is continuing what to do with EverFi, which it acquired in January 2022 for about $750 million in cash and stock. Steps considered by Blackbaud, whose CEO Michael Gianoni described Everfi as a “drag on revenue”, include divestiture.

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NET AT WORK, KENSIUM SWAP

 Net at Work has acquired the Acumatica business of Kensium. Simultaneously, Kensium acquired Pixafy, an ecommerce agency, from New York, N.Y.-based Net at Work

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FRÚMBOLI JOINS INFOR VAR

Sam Frúmboli, who spent eight years at reseller Blytheco, has joined Infor VAR, Decision Resources.

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