Accounting News


Sage Releases Quantum Sage Software has introduced Peachtree Quantum, a higher-end version of the Peachtree accounting software line.

The new product is priced at $2,995 for upgrading customers and $3,750 for new customers. "Many of our customers say they will outgrow the capabilities of Peachtree, but they don't really require a mid-market package. It's too much functionality," says Connie Certusi, vice president of product development, explaining the need for Quantum.

Deltek Targets Small Biz

Partner Insights

Deltek has released Deltek Vision Small Business, a pre-configured application for professional services firms.

Vision is a combination of core modules of Deltek Vision, which is used by large professional service firms, such as architecture, engineering, and design firms. The small business version is available with hosting services, along with billing and time-keeping functions, and a self-paced Fast Start Implementation.

Brueckner Leaves Cyma

Executive vice president Steve Brueckner has left Phoenix-based Cyma Systems after more than 25 years.

Brueckner had handled day-to-day operations since the resignation of former president Mike Glaser several years ago.

Everest Gets Funding

Everest Software, the Dulles, Va.-based company formerly known iCode, has received $8 million in venture capital funding from a group that includes Boulder Ventures as the lead investor.

Boulder was joined by existing investors Sierra Ventures and Updata Partners. Under its prior management, Everest received $8 million in funding in 2003.

Cougar Adds Payment Services

Cougar Mountain, an accounting software manufacturer based in Boise, Idaho, has introduced payment processing services for small and midsized businesses.

Cougar is making the services available for its accounting, fund accounting, and POS applications. The company is offering options that include POS check conversion, credit and debit-card processing, automated electronic payment and collection services, and gift cards.

Infor Gets Geac ERP

Infor, which markets software for the manufacturing and distribution industries, has acquired a series of ERP products from Geac Computer Corp.

The deal came as a result of the fact that Golden Gate Capital, which purchased Geac for $1 billion in cash, also funds Infor. The products transferred to Infor include System21, RunTime, Streamline, Ratioplan, and Management Data, and the employees associated with the products. Geac's finance and corporate performance management applications were transferred to Extensity, another Golden Gate Capital company.

Kintera Losses Double

Kintera, which owns the FundWare not-for-profit accounting line, lost $41.9 million for 2005, more than double the $19.29 million it lost in the prior year.

The increased losses came as revenue for last year reached $40.9 million, up 72.6 percent over 2004. The increase reflected the purchase of the Flagship Group, an Intuit subsidiary, in 2005. A 140 percent increase in general and administrative expenses to $14.9 million stemmed in large part from audit fees and use of outside consultants to comply with SOX.

Radiant Acquires Synchronics

Radiant Systems has purchased Synchronics, a Memphis, Tenn.-based company that sells point-of-sales systems for roughly $27 million in cash and stock.

Radiant said it purchased substantially all of assets in an agreement with Synchronics and its president, Jeff Goldstein, for $19.5 million in cash and 592,347 restricted shares of Radiant common stock. Synchronics will operate as a new retail division of Radiant.

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