IRIS, the accounting software group, has made it crystal clear that it intends to continue operating as an independent company following rumours that it may be on the radar of industry consolidator Infor.

The Datchet-based business software group is backed by private equity house Hg Capital, which invested in the company in 2004. With Infor – which has already bought out Systems Union – on the look-out for acquisitions, speculation mounted that Hg Capital may see the Infor war chest as an ideal opportunity to exit from its IRIS investment.

In a bold and uncompromising statement released last week, however, IRIS chief executive Martin Leuw made an emphatic declaration of IRIS’s plans to pursue its strategy as an independent entity.

‘In a world of faceless organisations, IRIS has always been, and will continue to be, an organisation with a face,’ said Leuw. ‘Unlike our larger competitors, who seem intent on centralising all activities in one location to become one amorphous mass, we will continue to build on the extensive expertise of our people in each area of our business, to provide expert, individual and tailored support to our customers.’

Leuw was able to back his words with a robust revenue forecast for the 2007/2008 financial year and a dynamic restructuring of the way IRIS runs its business units.

The group is forecasting impressive revenues of £45m for 2007/2008, which represents a five-fold income increase since Leuw took over as chief executive in 2001.

The continuing growth story at IRIS will most certainly please its private equity investors and fend off interest from any would-be predators.

The company will operate out of three strategic units, run by divisional managing directors. The new structure will free up Leuw to run the rule over any potential acquisitions and organic growth opportunities.

IRIS’s practice software arm will be based in Datchet and Kidlington, the HR and payroll software group will be based in Wigan and Stockton-on-Tees, and accounting and business software products will operate out of Bournemouth.