Acumatica Cloud ERP Powers Up with EQT Partners
Have you heard?
Yahoo Finance, Geekwire, Forbes and MORE are buzzing about an exciting shake up in cloud ERP. According to a press release early this week, private equity firm by the name of EQT Partners has acquired Acumatica through their EQT VII holding company, which currently owns another leading ERP software vendor: IFS AB.
This complimentary union will have Acumatica and IFS operate as sister companies, serving the business management software market with size-relevant cloud ERP solutions. Acumatica will target small to medium sized businesses while IFS will continue to work with larger enterprise customers.
The expected benefits of this union are many. The benefit of IFS and Acumatica under the EQT Partners umbrella is said to ensure that both companies have a stake in each other’s success from R&D advancements to a global geographic footprint. Both companies, however, will continue to operate independently.
Jon Roskill will continue to lead Acumatica as CEO with continued focus on accelerating its strong growth momentum, customer satisfaction and go-to-market strategy for the cloud ERP solution.
“This move provides exceptional validation of Acumatica’s market execution and growth in the last several years. Greater investment from EQT will unlock new opportunities for us to better serve our customers and secure a stronger future for Acumatica. To compound this potential, is the access to, and collaboration with, ERP industry leader and fellow EQT portfolio company, IFS.”-Jon Roskill, CEO of Acumatica
“This collaboration is great news for both organizations, our customers, partners, and employees… EQT has brought together two businesses that will enjoy the key benefits of a partnership in the growing cloud enterprise applications market. IFS and Acumatica can benefit from one another’s resources, capabilities, and strategies, but still enjoy full autonomy and rapid growth trajectories while avoiding disruptions to business operations or brand equity.”-Darren Roos, CEO of IFS
Key Takeaway: Two of the hottest cloud ERP vendors have joined forces to form a global ERP powerhouse.
IFS and Acumatica will be better together and continue to serve their respective markets in the growth industries of manufacturing, distribution, construction, service, and energy.
We are thrilled to hear of this exciting milestone in Acumatica’s success story and will continue to be proud partners of this growth-minded organization!
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