Eide Bailly acquires Oracle NetSuite provider TrueCloud

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Top 100 Firm Eide Bailly has acquired Tempe, Ariz.-based Oracle NetSuite solutions provider TrueCloud. Financial terms of the deal, which will close May 1, were not disclosed.

TrueCloud has a strong NetSuite services offering, having won the NetSuite Worldwide Solution Provider Partner of the Year Award in 2015. Joining Eide Bailly will bring expanded resources and expertise to both TrueCloud’s and Eide Bailly’s clients, TrueCloud CEO Mark Wenig said in a statement.

For its part, Eide Bailly took home the NetSuite Americas Solution Provider Partner of the Year Award last year. In a statement, the head of the firm’s ERP practice, Stuart Tholen, said, “There’s no limit to the possibilities that can come with adding TrueCloud to the firm.”

“Our goal as a firm is to continue to expand our services and resources to help our clients succeed and reach their goals,” Eide Bailly CEO Dave Stende said in a statement. “The demands of a constantly evolving business world make the right technology an essential part of that success. The addition of TrueCloud will be a tremendous boost for our Technology group and shows our clients we’re ready to help them tackle whatever challenges they face.”

Wenig added, “Our two practices share a culture of dedication to client service. The combined team will have unmatched breadth and depth of NetSuite talent and geographic reach.”

Eide Bailly ranked No. 21 on Accounting Today's Top 100 Firms list, with fiscal year 2017 revenue of $263 million. TrueCloud’s estimated annual revenue is $10 million.

This year, Eide Bailly has participated in several mergers already, including with Decipher Forensics in American Fork, Utah, France, Basterrechea, Wagner & Bunn in Gooding, Idaho, and Heider, Tanner & Dirks in Denver.

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M&A ERP software Cloud computing Oracle NetSuite