New York (Feb. 25, 2002) - CPA2biz, the Internet-based portal and distributor of products from the American Institute of CPAs has acquired Web services provider Rivio and made that company's founder and chairman, Navin Chaddha, president of CPA2Biz. Financial terms were not disclosed.
With the deal, Santa Clara, Calif.-based Rivio becomes a CPA2biz subsidiary and becomes the portal's application service provider, replacing JamCrackers as the hosting platform. CPA2Biz also adds Rivio's technologies to the products and services available to CPAs and their clients; gains access to the 20,000-plus small businesses that now use services delivered by Rivio, and acquires relationships with its new subsidiary's business partners. Those partners include banking giants Bank of American and Fleet, which are among the companies that use Rivio to host their Internet business platforms.
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