Sage announced plans to acquire Intacct yesterday, July 26, 2017, bringing one of the leading cloud accounting applications into their extensive product portfolio. The acquisition is expected to close within 2-3 weeks. e2b teknologies is a reseller and developer for both Sage and Intacct including many different Sage products. So why is this happening, what does this mean to the market, and why should you care?
Sage was formed through literally dozens of acquisitions – internationally and domestically here in the United States. Sage is ever-evolving and adapting to new technologies. It just so happens that the best strategy to adapt is sometimes to acquire industry leaders like Intacct.
Both Sage and Intacct target small to midsize businesses. Both are well respected as leading accounting software providers and both have strong reseller channels. Further, both companies value long-term client relationships and look to third party developers for integrated best of breed applications like Anytime Collect.
This acquisition makes perfect sense as Sage has invested in developing cloud applications like Sage One and Sage Live for the lower end of the market but was really missing a cloud piece into the midmarket. Intacct is very different than any Sage product and really shouldn’t compete against existing Sage products. Further, many Intacct employees came from Sage previously so the integration of the two companies is likely going to be extremely fast and easier than many previous transactions.
The new branding will be Sage Intacct and there are no plans to change pricing or the immediate product road map. The acquisition is phenomenal for both companies. Sage gets a pure-play cloud application in a market segment where they had none and Intacct gets a global presence, deeper pockets, access to supply chain expertise, and access to a much larger reseller and developer channel not to mention a much stronger brand.
The acquisition will have no negative impact on customers or prospects. In fact, if anything – the acquisition will have nothing but positive effects for everyone involved. More information will be forthcoming from Sage Intacct in the coming months. For the short term it’s business as usual at Intacct including the Intacct Advantage conference in Las Vegas to be held October 16-20, 2017.
From our perspective – this is great news for e2b teknologies and all of our customers and prospective customers. Contact us for additional information, questions, or concerns regarding the nature of this monumental announcement.