|
|
01 Jun 2004
The deal, which brings 1,200 customers and £45m in sales under the new business, is another step towards consolidation in the accounting software industry.
A spokeswoman said that the company, which will operate as two seperate brands for the time being, will be robust in both the private and public sectors.
'CedAr is strong in government services, but not so strong in the commercial market. OpenAccounts will allow us to move into that sector.'
The merged business will have a much higher profile than both companies had before, the spokeswoman added. 'CedAr and OpenAccounts weren't previously mentioned by the likes of [analyst group] Gartner. We will now be on their radar.'
Redundancies are 'not expected' following the merger.
David Turner, marketing manager of rival accounting software company CODA, warned that it would be a tough task to raise the profile of two companies 'neither of which has a strong brand'.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment