When Open Systems says it has opened an office, that generally means it has acquired a reseller. In this case, the Minneapolis, Minn.-based software vendor has purchased Adaptive Business Solutions, based in Indianapolis, Ind. ABS has become Open Systems' Indiana Regional office. ABS was founded by president Brett Striegel in 1997. For the software company, this is the second purchase of a VAR this year.
Two companies have recently reported statistics on how low cloud accounting penetration is among businesses. At his company's partner summit in August, Acumatica CEO Jon Roskill put the total at 7 percent for the midmarket and Intuit SVP Dan Wernikoff estimated the percentage for cloud financial products at small businesses as under 4 percent. In a more recent interview, Roskill said Gartner expects the midmarket share to hit 47 percent in five years; but that's still a ways from being the majority platform.
Intacct has hired Kevin Cumley as the new director of the Intacct Accountants Program. Cumley, who was most recent VP of strategic alliances at nonprofit vendor Abila, was previously president of Forepoint, a Sage and Deltek reseller. He reports of Taylor Macdonald, VP of channels. Cumley got to Abila after serving as a VP at Avectra starting in 2012.
Another ERP vendor is falling under private equity ownership. Exact has agreed to recommend selling its shares to Eiger Acquisition, a subsidiary of funds advised by Apax Partners, which already owns Epicor in a deal worth about $959 million; slightly more than half in equity financing and the rest in debt. Exact, which had previously said it had rejected takeover approaches, said it accepted the offer in order to develop as a global cloud company, and will expand with its existing markets and into new countries.