INFORMATION TECHNOLOGY GROUP ACQUIRES XCELERATE: Los Angeles-based Information Technology Group Inc. has acquired Xcelerate LLC, a reseller of Sage Accpac ERP and Sage CRM software based in Chicago.Financial terms of the deal were not disclosed. The combined firm will operate as Arxis Technology Inc. and serve over 450 clients in four major markets - including Southern California (Los Angeles and Orange County), Chicago and Phoenix.
The firm said that operating as a combined entity will allow it to expand its service offerings.
ITG's Sage Accpac consultant and project manager, Jean Sheridan, will return to her native city to become director of Arxis' Chicago practice. As part of the transition, Xcelerate founder and principal Jan Goodman will relocate to Scottsdale, Ariz., to build the Phoenix practice. Arxis Technology principal David Cieslak described the moves as "simply the best 'two-for-one' opportunity" the business had ever encountered.
The Arxis name comes partially from the Latin word arx, which means citadel or fortress. The company also said that the name change will help clients to more easily identify and understand the services available from the firm's sister accounting and financial planning entities - Arxis Financial Inc. and Arxis Wealth Management LLC, respectively.
RIA AND PAISLEY FORM MARKETING PACT: Tax research services provider Thomson RIA has partnered with risk-compliance software publisher Paisley Consulting in a marketing pact wherein they will jointly unveil a government risk and compliance platform that will feature integrated access to auditing and compliance research. Terms were not disclosed.
As part of the agreement, Paisley Consulting will integrate RIA's flagship product, Checkpoint, into its Paisley Solution, a product for government risk and compliance, financial control processing, and audit information. As a result, users will be able to access content from RIA's Sarbanes-Oxley Reporter, Corporate Governance and Internal Auditing Library from anywhere within the Paisley Solution application.
HYPERION, MOVARIS TEAM IN FINANCIAL CLOSE APP: Business performance software provider Hyperion has teamed with Movaris, a financial reporting and compliance software and products concern, to market a series of products that will address the financial closing process.
The first solution rolled out under the new partnership is the Integrated Close Solution, enabling users to integrate, manage and control data, processes and workflow throughout the financial close and compliance process.
Allowing users to work from either the Hyperion or Movaris environments, the Integrated Close Solution integrates data and functions from the Hyperion System 9 Financial Data Quality Management and Hyperion System 9 Financial Management modules with the Movaris OneClose financial controls, account reconciliation and financial close solution.
SERENIC EARNS UPGRADED ISV STATUS WITH MICROSOFT: Nonprofit software publisher Serenic has earned upgraded status as an industry solutions vendor with Microsoft Corp. Criteria for Microsoft ISVs at that level include marketing a solution (Serenic Navigator) that combines unique functions with an embedded Microsoft product. In addition, ISVs must meet the following criteria:
* Revenue must be derived from the repeated sales of its own packaged software product, either through a channel or directly to end users;
* Product release cycles with release dates, upgrades and versioning must be followed;
* A significant percentage of its budget must be spent on research and development of packaged software products; and,
* The product must pass testing by Microsoft.
TWO STEP SOFTWARE UNVEILS VALUATION SOLUTION: Two Step Software Inc., a provider of corporate governance and stock-plan administration solutions, has rolled out an enhanced version of its Corporate Focus product that includes a feature for stock-option expensing. The new add-on was designed to meet the valuation mandates of FAS 123R, a standard from the Financial Accounting Standards Board that requires all companies to recognize the fair value of stock options and other equity-based compensation issued to employees in their income statement, instead of merely as a footnote.
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