Xero showed the emphasis it puts on the market in the United States as it hired a new CFO who will be based in San Francisco. The New Zealand-based published cloud accounting software this week said it has hired Douglas Jeffries as CFO with the prior person in that role, Ross Jenkins, moving to the newly created position of COO. Xero also announced the hiring of Gregory Volm, who had previously been senior director of North American sales for Zendesk, as VP of U.S. sales.
NetSuite has announced VAR signings, the most notable of which is of New York City-based Net@Work. Since that company had been advertising NetSuite on its website since mid-December, the news this week this was not a surprise. But this officially removes the largest remaining Sage-only VAR from that camp. In its submission for this year's VAR Star selection Net@Work said it had $34.5 million in annual revenue.
Sage's organic revenue increased by 5.3 percent for the first quarter ended December 31. Sage issued the statement this week as part of its first-quarter trading update. But North America has been hampered by weakness in the payments business, which CFO Steve Hare said during a conference call comprises about 20 percent of revenue on this continent. Sage expects the business in general and payments specifically to improve in the second half.
Shareholders of Exact Holding have approved the sale of the company's assets to funds managed by Apax Partners. The action at this week's extraordinary meeting also approved the dissolution of Exact as it has existed and the supervisory board of directors will replaced as of the settlement date. Exact has at least one more set of public numbers to report with the release of financial results for the year coming next week.