PRACTICE DEVELOPMENT NEWS

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DUFFY OUT AT EPARTNERS Chairman Howard Diamond has taken over the position of CEO at ePartners as the national reselling firm raised a new round of funds and revamped its management team.

Diamond assumes the position vacated by Dan Duffy, who left in what Diamond says was an amicable parting. Meanwhile, CFO Matt Purser became VP of Operations, while Jamie Miller, former VP for mergers and acquisitions, slid into the CFO spot. The company also received $22 million in venture capital funding. Diamond described his efforts as focused on "putting something together that isn't in the marketplace." He says that there will be acquisitions, but buying more resellers is not a priority.

CBIZ NAME ADOPTED

Partner Insights

Century Business Services, a Cleveland-based company that provides tax, accounting, and technology services, has changed its name to CBiz, which was already in use as a company brand.

The company noted that its technology business revenue was $2.2 million higher in the first half ended June 30, over last year's corresponding quarter. It said that the growth came from client lists acquired in the fourth quarter of 2004, along with a large product sale made by one unit. Details were not provided. Its national practice revenue, which includes its technology business, rose to $43 million for the most recently ended quarter, up 22.8 percent from $38 million a year earlier.

TREY SEEKS ADVICE

Trey Industries, which owns SWK, a Livingston, N.J.-based Sage reseller, has hired Thornhill Capital to advise the company on identifying possible investors, mergers and acquisitions, and raising capital.

The agreement came as Trey released results for the second quarter ended June 30. Second-quarter revenue was $955,527, up sharply from $215,075 a year earlier. Its loss of $334,203 was up from $312,654.

CFO LEAVES COLUMBUS IT

Torben Bartels, the CFO of Columbus IT Partner, a Microsoft reseller based in Denmark, has left his job after four years.

The company said his decision stemmed from management changes and reorganizations. It came on the heels of the release of results for the first half ended June 30. The company reported revenue of about $49.8 million, compared to $47.9 million over last year. The company says that U.S. revenue was up 88 percent and U.S. EBITDA was up 160 percent, but gave no details. Company-wide EBITDA was $1.7 million, down from $4.1 million for last year's corresponding period.

AMEX SPINS OUT IT GROUPS

American Express Tax and Business Services spun out two of its information technology operations, prior to the sale of TBS to H&R Block.

The spin outs included the Revere Group, which purchased the Chicago TBS operations in December. In Ohio, CPA Jeff Geisler, who had joined TBS via its purchase of Hausser + Taylor, acquired the offices in Cleveland, Cincinnati, and Dublin, Ohio. Geisler's organization is doing business under the name Socius 1.

RED WING HONORS COMPUTER EDGE

Red Wing Software has named Computer Edge, a value-added reseller based in Hayfield, Minn., as its top reseller for 2005.

Computer Edge, which has been in business for more than 20 years, was honored along with the top 10 selling resellers for Red Wing, which is based in Red Wing, Minn.

CIOS VALUE IT EXPERIENCE

A survey of 1,400 CIOs found that industry-specific experience was the most valuable factor if they had to choose between job candidates with similar skills.

Industry Specific Experience - 43%
Soft Skills - 32%
Certifications - 15%
IT Undergraduate Degree - 8%
MBA - 1%
Other or Don't Know - 1%

Source: Robert Half Technology

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