Accounting News


DOWNING LEAVES SAGE Craig Downing, a 15-year veteran of Sage Software's operations, has resigned from his position as vice president and general manager for Accpac.

Downing joined Sage with its acquisition of Accpac International in 2004. Also leaving Sage Software was Jim Portner, vice president and general manager of the MAS line. Portner was reported to be entering the real estate business. A former manager at Lacerte, Portner had previously been vice president of product management with Sage's Peachtree operations.


Partner Insights

Everest Software, a Dulles, Va.-based company that markets the Everest Advanced ERP line, has named Edwin A. Miller as president and CEO.

Miller, previously president and CEO of Infodata Systems, replaces James E. McGowan, who remains on the board of directors. The company has also introduced professional and enterprise versions of Everest Advanced, and announced year-to-year term licensing for the on-premise version of Advanced.


Sage Software reported a 21 percent increase in EBITA on a 16 percent increase in revenue for the fiscal year ended Sept. 30.

EBITA for fiscal 2006 was $160.4 million, while revenue was $652.2 million. The company's parent, Sage Ltd., had EBITA of $449.8 million, a 22 percent increase over fiscal 2005, and revenue of $1.69 billion, a 22 percent rise. Sage Software had a 7 percent increase in organic revenue over the prior year. Its mid-market sales grew by 4 percent from 2005 to 2006.


Infor, a four-year-old company that markets financial applications for the manufacturing and distribution markets, has begun requiring that its resellers not carry competing products.

The requirement affected only a handful of VARs, said Rick Parker, senior vice president of global marketing, although some U.S. resellers differed on that point. Infor has grown rapidly through acquisitions. The most recent was Systems Union, whose purchase brought it to $2.1 million in annual revenue.


CDC, a technology vendor that also owns the Ross ERP and Pivotal CRM products, has gotten into the reselling business with its purchase of Vis.align, which is based in King of Prussia, Pa.

Founded in 1999 by President Jennifer Horrocks, Vis.align, which sells the Microsoft Dynamics line, had $20 million in revenue for 2005. Meanwhile, CDC said that U.S. revenue for 2005 was $201.8 million, up 33.8 percent from $150.8 million the prior year.


Jeffrey B. Williams, who was most recently president of Applicant Insight, has joined Sage Software as vice president and general manager for Sage Payroll Services and Sage Compliance Services.

Williams reports to Karl Grass, SVP and general manager of Specialized Business Solutions. Applicant Insight provides pre-employment screening services. He was also described as having spent several years at ADP and Paychex.


Kintera, a San Diego-based company that markets nonprofit software, has raised $5 million through a private placement of 4 million shares of common stock with institutional investors.

The proceeds were slated for use for general corporate purposes. That followed on the heels of the company's loss of $6.9 million for its third quarter end Sept. 30. While that was less than the $11.7 million in red ink a year earlier, revenue dropped to $11.7 million for the third quarter, down 3.3 percent from $12.2 million a year earlier.


Cyma Systems has promoted Debbie Armer, formerly its dealer program manager, to the position of director of channel development.

Armer, who has been with the Phoenix-based accounting software reseller for eight years, is responsible for managing the growth and development of the reseller channel. Her duties include oversight for reseller recruiting and marketing initiatives designed to produce leads.

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