Accounting News

Print
Email
Reprints

SAGE TAPS CEO Sage has named Sue Swenson, a cellular telephone industry veteran, as CEO of Sage Software, replacing the spot left vacant when Ron Verni was ousted last year.

Swenson spent 12 years at the former regional Bell Co. Pacific Bell/Telesis and moved from landlines into cellular, and was president and CEO of Cellular One from 1994 through 1999, when she became COO at Leap Wireless, where she spent another five years. Swenson then became CEO of T-Mobile USA and served on the international board of directors.

KINTERA HALVES LOSS

Partner Insights

Nonprofit vendor Kintera slashed its loss to $3.1 million for the fourth quarter ended Dec. 31, down from $6.7 million for 2006.

But that improvement came as revenue dropped to $9.5 million, down from $9.7 million in last year’s corresponding period. The net loss for 2007 fell similarly, to $15.8 million in the most recently completed year, sharply down from $33.1 million. Revenue rose to $44.9 million, up from $41.1 million.

EPICOR UPS CEO’S PAY

Epicor has set the base salary of its new CEO, Thomas Kelly, at $500,000, now that Kelly has taken over from the company’s longtime top executive, George Klaus.

Kelly, who was guaranteed for a $150,000 bonus when he started the job, can qualify for another $150,000, based on the company’s performance. He also is receiving a grant of 228,000 shares of restricted stock to be spread out over fiscal 2008 and 2009.

EXACT ENDS TALK

Exact Holding, parent to Exact Software, which markets the Macola and eSynergy lines, has ended discussions with investment firms.

The company said in January it would hold discussions, and would contemplate a variety of options that could include the sale of all shares. However Exact’s board of directors, supervisory board and largest shareholders concluded that the state of the financial merits meant that continuing discussions would not be suitable.

INTACCT LAUNCHES SPRING ‘08 RELEASE

The latest version of Intacct’s Web-based financial management system introduces Intacct Insights, a collection of tools for managers to get a better understanding of their company’s finances.

The tools include user-customizable dashboards, alerts and operational charts. The California-based company also began offering a fixed-fee implementation option, which one executive referred to as a “Club Med model with everything included,” though extensive customization work is extra. Additionally, it opened a second data center, in Philadelphia.

MBS TARGETS QBES

Microsoft is launching a campaign aimed at getting users who have outgrown QuickBooks Pro to use Microsoft Dynamics GP.

The company is using the Smart Move campaign to dissuade users from moving from QuickBooks Pro to Intuit’s QuickBooks Enterprise Solutions. Dynamics senior director Jon Pratt says Microsoft will position its product as being strong in multicurrency, multilingual and multisite warehouses, along with serving multiple users that it says can’t be adequately served by the Intuit products. Microsoft is offering tools on a Web site, www.asmartmove.com.

PPI PICKS CFO

Payment Processing, a Newark, Calif.-based provider of credit-card services, has named Jim Condon as its chief financial officer.

Before joining PPI,
Condon was chief operating officer and COO of GetWellNetwork, which makes interactive patient care products. He had also held executive positions with EduCap, which provides student loan applications, and SecureMethods, a network security company.

NETSUITE OFFERS EBIZ

NetSuite has introduced two vertical editions of its online applications, the NetSuite Ecommerce Company Edition and NetSuite Ecommerce+ Company Edition, along with adding new Web store functionality.

The Web store features include PayPal Express Checkout integration along with “Tell a Friend” and “Log in for Price,” eBay integration and fraud protection tools. The eCommerce Edition integrates front- and back-office processes and provides sales, marketing and reporting capabilities.

SAGE BUYS TEKTON

The Sage Group, parent of Sage Software, has acquired Hallco, a construction software company based in the United Kingdom, for about $41.7 million in cash.

Sage said Hallco had revenue of about $8.9 million for the half year ended Dec. 31. Tekton has around 230 client companies.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Register now for FREE site access and more