Right Networks, a cloud hosting services provider for accounting firms, has acquired Transaction Pro, a provider of data import/export tools and services globally for the QuickBooks user community. Terms of the deal, which closed in June, were not disclosed.
Right Networks specializes in bringing QuickBooks Desktop to the cloud by providing cloud hosting to firms that need to use the desktop version of the software, but would like cloud capabilities to access data from anywhere.
Transaction Pro includes Importer and Exporter products that automate the transfer of data between QuickBooks and hundreds of other applications in order to reduce the time spent on repetitive, manual tasks while improving accuracy and repeatability.
“Tools that optimize the movement of data between applications with integrity and security are critical to accounting professionals’ workflow and business efficiency,” said Joel Hughes, CEO of Right Networks, in a statement. “We have been a reseller of the Transaction Pro products for years and have seen the value they provide to our customers. Our plan is to grow the Transaction Pro customer base by continuing to invest in product development and world-class support.”
Added John Magno, owner and founder of Transaction Pro, “Having built Transaction Pro from nothing into an industry leader with tens of thousands of satisfied customers, I felt the next step was to expand the market reach of the Transaction Pro tools and services through their integration into a larger entity. Based on our long, successful relationship with Right Networks and their world-class reputation in the market, I knew this was the right fit for the business and its customers.”
This is the second acquisition Right Networks has completed in the last 12 months. In November of last year, the company bought managed IT solutions provider Xcentric.
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