ACCPAC International, Inc., a division of Computer Associates' interBiz group, today announced plans to acquire Software Business Technologies, Inc., known as SBT Accounting Systems (SBT). As a result, ACCPAC International, Inc. will have more than 550,000 installations and 5,500 business partners in more than 100 countries. Financial terms were not disclosed.
ACCPAC is an industry-leading developer of accounting and e-business software solutions for small and medium-sized enterprises (SMEs). SBT, based in San Rafael, California, is a leading provider of database accounting solutions. SBT accounting software provides maximum customizability by making its source code available to its channel partners and end users. SBT supports its solutions via a channel of more than 1,500 resellers and integration partners, and more than 150 employees.
ACCPAC will move forward with both the SBT and ACCPAC product lines. The companies' marketing, sales, service, and support programs will be unified. This will streamline programs and allow for expansion to better serve customers and partners. Overall, ACCPAC's strategy is one of ongoing distinct product lines serviced via unified programs.
"For more than 20 years, ACCPAC and SBT have been providing cutting-edge solutions to a diverse client base," said ACCPAC President and CEO David Hood. "This union will bring together distinctive yet complementary technologies, creating tremendous synergies and benefits for our respective customers, resellers, integration partners, and employees. With our expanded portfolio of solutions we can offer the best of both worlds-the best out-of-the-box solutions and the best database accounting solutions customizable at the source code level."
"Today's announcement is terrific news for SBT customers and resellers," said SBT President and COO William Mills. "We now have two robust, dynamic product lines, significantly enhanced research and development resources, and a much stronger overall market presence. This means that our customers have more choices moving forward, and our resellers have considerably greater market leverage than they did yesterday. SBT couldn't have asked for a better fit than ACCPAC."
"SBT has grown a very sophisticated channel intimately familiar with its technology," added Hood. "We are committed to preserving and further developing the unique strengths of the SBT channel partners and products."
"This is great news for SBT resellers and integration partners," said David Lahey of Lahey Software, Inc., a leading SBT reseller and integration partner. "The global reach of ACCPAC in the mid-range accounting software market instantly expands the breadth of marketing and sales resources available to SBT business partners. I'm very excited about the growth opportunities inherent in today's announcement, and particularly pleased with the clear commitment to SBT's ongoing product strategy."
"This is a very positive move by ACCPAC, and further demonstrates the company's serious commitment to becoming the world's leading provider of accounting and e-business solutions for SMEs," said Sandy Needham of American European Consulting Co. Inc., a leading ACCPAC reseller.
Retiring SBT Chairman and CEO Robert Davies will contribute to the expanded organization in an advisory capacity. Mills and Executive Vice President Susan Sheridan will continue to play active management roles. The acquisition is expected to close before the end of July.
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