Interface Software, which makes the Interaction CRM software line for the professional services market, has been acquired by LexisNexis.
Terms were not disclosed.
About 120 Interface employees will remain at LexisNexis, including Interface president and chief executive Nate Fineberg. Fineberg will report to John Lawler, senior vice president of LexisNexis' emerging markets group.
In April, LexisNexis acquired Data.TXT, which markets the Time Matters and Billing Matters practice management and time and billing packages. Bob Butler, Data.TXT's president, also reports to Lawler. The two groups will continue to operate separately.
Interface, which has historically concentrated on the legal market and the top 30 largest CPA firms, will study the development of products for smaller accounting firms, but has not committed to moving into that market, says Fineberg.
"It opens our options for how we attack the market," says Fineberg. The company is also looking at ways it can integrate LexisNexis data into the CRM system and is also considering increased use of resellers to provide implementation services, although not to resell Interaction. Fineberg says that a small number of resellers of the Microsoft CRM package have been working with Interaction.
