Over the last two weeks, Enterprise Times published the story of Halo Infusions and selected Rootstock to help its future growth.
The story was based on earlier press releases and some questions posed to the companies.
Acquisitions
ECI Software Solutions announced it has completed the acquisition of Treetop Group, a software company specialising in business software solutions for the residential construction and craft industry in the Netherlands.
SOFTONE Group announced the acquisition of 100% of the share capital of Sunsoft, a leader in the production of advanced IT systems for catering and hospitality businesses.
Business
ToolsGroup and NTT DATA announced a new global partnership that will expand opportunities for organizations to make smart, efficient supply chain digital transformation decisions, supported by leading AI-driven technology and industry expertise.
Visma has reinforced its support of the reigning Tour de France, Giro d’Italia and Vuelta a España champions. From 1 January 2024, the world’s best cycling team will ride on as Team Visma | Lease a Bike.
Xero announced it is partnering with Flinks, a leader in open banking, to give small businesses in Canada and the United States secure access to more than 20 direct bank connections and high-quality transaction data.
Customer
Acumatica revealed how several customers have benefitted from its ERP solution. DiamondBack changed from QuickBooks to Acumatica to connect sales and financial operations.
Jeffree Star Cosmetics (JSC) and affiliated Killer Merch are relying on Acumatica’s native Shopify integration to manage its back office while creating an exceptional customer experience.
Using Acumatica’s connected platform, cbdMD, a leading hemp-derived cannabidiol (CBD) brand, eliminated costly licensing fees, saving the company over $200,000. In addition, Acumatica has enabled cbdMD to increase throughput to keep pace with the demand for its products.
Siman, the Central American department store giant, has made significant improvements in its logistics operation by adopting the Infor WMS warehouse management system.
North Memorial Health has selected Oracle Fusion Cloud Applications Suite to support its mission of helping patients achieve their best health.
Oracle Health and General Dynamics Information Technology (GDIT), a business unit of General Dynamics, are collaborating to modernize the Indian Health Service’s (IHS) electronic health record (EHR) system. An agency within the Department of Health and Human Services, IHS provides federal health services to 2.6 million American Indians and Alaska Natives belonging to 574 federally recognized tribes across 37 states. Under a 10-year, $2.5 billion contract, GDIT will replace the agency’s current system with a cloud-based enterprise EHR system from Oracle Health.
Pandle published an interview with the co-founder of The Possibility Partnership, a cloud consultancy, cloud partner services and digital transformation specialist. The firm uses Pandle to reduce reliance on accountants, submitting its VAT returns automatically through the software.
Funding
IRIS Software Group
IRIS Software Group secured a co-controlling investment from LGP, a Los Angeles-based private equity firm, in a transaction valuing the business at an EV of around £3.15bn. Hg will retain a co-controlling stake in IRIS in acknowledgement of Hg’s transatlantic capabilities and strong 20-year relationship and experience working with the IRIS team. As part of the transaction, ICG will remain a minority investor in the business.
Elona Mortimer-Zhika, CEO of IRIS, says: “To secure backing from a leading US investor in LGP, alongside the continued support of Hg and ICG, underscores IRIS’s enduring success over many decades. Our unparalleled product portfolios combined with excellent customer service have resulted in IRIS being a leader in our sectors. We have also expanded our country presence with a notable focus on the US, so LGP’s local expertise will be instrumental in our acceleration to a world-class transatlantic business.
“Starting 45 years ago with accountancy software, IRIS has evolved to be relied on by more than 100,000 customers. Today, the business handles $18 billion of payroll payments annually in the US and Canada, and processes six million pay slips worldwide each month. One in six of the UK’s workforce is paid by IRIS payroll offerings, and more than 850,000 UK employees are managed by IRIS HR solutions.”
Visma
Visma has expanded its shareholder base through a secondary sale to leading international shareholders to support further international growth. The transaction, which values Visma at EUR 19 billion, will welcome around 20 new investors to the shareholder register, worth over EUR 1 billion of equity investment, with new investors including Altaroc, Jane Street, NPS and NYC Retirement System.
The transaction will also result in around EUR 3 billion in new investment from existing shareholders, including Hg, who will continue its 17-year-long investment in the business with a majority stake, in addition to a group of co-investors including ICG, TPG and Visma management.
Merete Hverven, CEO of Visma, said, “We are delighted to receive this further vote of confidence from Hg and other leading investors in a transaction that confirms our stellar development and attractive outlook. Visma delivers the digital tools that businesses need to drive efficiency, innovate and stay competitive. Supported by a solid and knowledgeable shareholder base, we are perfectly positioned to continue our unique growth journey”.
Product
FreeAgent announced that its self-assessment capability now includes the ability to record your property income on your Self-assessment tax return. FreeAgent supports the UK property page (SA105) for sole traders and limited company directors when you complete your Self-assessment tax return in FreeAgent.
In a festive blog, QAD related a fictitious (we assume) case study of how Santa is leveraging QAD Import Management, QAD Transportation management and QAD Restricted Party Screening.
