Abacus Next enters accounting world with two acquisitions
Law case management software company Abacus Next has made a move into the accounting world.
In a Tuesday press release, Abacus announced that it had acquired Cloudnine Realtime, a cloud services provider for certified public accountant firms, and Results Software, a client relationship management software company for QuickBooks users. According to Abacus, the deals will allow the company to enter the accounting industry, which is new ground for the legal service providers. Additionally, Abacus claims that it is now positioned as the largest technology-as-a-service provider in the professional services industry.
“The Abacus Next portfolio of solutions serve the needs of businesses at every stage of the customer lifecycle,” said Alessandra Lezama, CEO of Abacus, in the press release. “Busy lawyers and CPAs are not only looking to streamline their practices with technology, but are also dedicated to finding ways to grow their firms. Cloudnine and Results fit perfectly into our cross market strategy, and these acquisitions mark a milestone in the transformation of Abacus into a turnkey services provider that can deliver on customers’ complete range of technology demands.”
Robert Chandler, founder and CEO of Cloudnine said in the press release that Cloudnine and Abacus Next are “naturally symbiotic” and that both companies are “driven to building cloud solutions for the complete range of demands of the CPA and financial industry.” Meanwhile, Sam Saab, president and founder of Results Software, said in the press release that his company’s customers have been looking for a cloud-based platform like Abacus for years. “Our clients can now focus on their core strength and expertise in running their business, while working from anywhere, and on any device,” Saab said.
According to Accounting Today, both Cloudnine and Results will continue to operate as standalone businesses under the Abacus umbrella. The deal marks the third acquisition in less than a year for Abacus. Last May, it purchased Gavel & Gown, a practice management software firm for lawyers.
