There’s been a lot of consolidation in the accounting software space. Often, this creates a big win for not only the challenger, innovator, or growing brand, it also provides immense value for the acquiring company as well, who is able to dive into a new market or gain expertise where there was formerly less. It’s why last year the Wipfli acquisition of Brittenford was heavily celebrated, and why we are proud to share with you news from the software front, in which Intacct has been acquired by Sage, a move which hopes to position both companies for success for years to come.
A Win For Both Companies, Their Partners, and Their Customers
We, like many Intacct resellers, once took our shots at Sage, but after reading the announcement and industry analysis of the move, we believe this will benefit both companies, as well as the resellers and accounting firms who make the magic happen.
Similar Goals: Relentless Customer Focus
While we once positioned both companies as different, their goals are quite similar—providing the highest possible customer service, support, and innovation. In fact, another look at this announcement, and you’ll see that the acquisition not only will benefit both companies, but the customers and resellers as well. Robert Reid, CEO of Intacct, who will retain his role at the reins for the time being, had this to say.
“We are excited to become part of Sage because we are relentlessly focused on the same goal – to deliver the most innovative cloud solutions for our customers. Intacct is growing rapidly in our market and we are proud to be a recognized customer satisfaction leader across Midsize, Large and Global Enterprise businesses. By combining our strengths with those of Sage, we can jointly accelerate success for our customers.”
Industry Love for the Deal
It’s not just the two companies who touted the deal, many in the industry loved it as well. One of these insiders who praised the deal was Seth Fineberg, Managing Editor of AccountingWEB, who offered his analysis after the dust settled.
On Sage’s history of success through acquisition:
Sage made its biggest splash in the US in the early 2000s by purchasing two major accounting software concerns: Best Software and Accpac. Many of those products still exist today […] Sage has a strong history of growth through acquisition […].
On the acquisition patching Sage’s weakness in the cloud space:
In mid-market accounting, cloud has eluded Sage in that it never built a cloud financial product […] until recently, Sage had not made such a purchase in the market. So, at its most basic level, Sage now has that mid-market/ERP cloud product to offer.
On Sage’s successes, both internationally and with accounting firms:
Sage has long professed its commitment to accounting firms and had even started its own network [of]partner firms […] who could advocate for Sage products. That number, again, has notably increased with this purchase (adding to Intacct’s success with technology consulting practices and top 200 Firms).
On the acquisition increasing Intacct’s presence globally:
As for Intacct, I can’t not see this as a win. […] the Intacct channel grew strong and committed and their customer base loyal. […] Also, what always seemed to elude [Intacct] was global scale. With Sage’s global presence, they now have that in a bigger way than they ever did.
Combined Power, Focused on the Customer
While there is still a lot to be discussed, it’s hard to not see this as a win for both companies, as well as the customers they serve. As a company that has benefitted from the increased scale that comes from an acquisition, we look forward to seeing what the future holds for these two, soon-to-be-one companies.