XERO RAISES $20M

Wellington, N.Z. - Cloud-based accounting software provider Xero has completed a $20 million round of financing through a placement to existing strategic investors, which will allow the company to expand its global reach - particularly in Australia, the U.K. and the U.S. Xero officially entered the U.S. market last year, and claims to have reached over 60,000 users worldwide.

 

WAVE LAUNCHES PAYROLL

Toronto - Cloud accounting software developer Wave Accounting has released its first online payroll tool, Wave Payroll, initially targeted toward Canadian users, with a U.S. version planned for mid-2012. Wave Payroll offers direct deposit, year-end tax forms, and remittances to the government. Wave charges $3 per employee per payroll, with discounts for companies with 10 or more employees.

 

SWK ACQUIRES SAGE ACCOUNTS OF INCORTECH

Livingston, N.J. - Sage North America partner SWK Technologies has acquired the Sage accounts of Southern California-based Sage MAS 90, 200 and 500 reseller IncorTech, effectively adding nearly 150 clients and increasing its West Coast presence. IncorTech president Steve Birdwell will be stepping away from the business, while his brother David, a senior consultant on Sage MAS 90, 200 and 500, will join three other SWK staff members based in Southern California.

 

SBS HEADS TO THE CAROLINAS

Woodbridge, N.J. - SBS Group has added Microsoft Dynamics GP and CRM reseller Invantech Business Solutions to the SBS Partner Network, marking the Dynamics Master VAR's foray into the Carolinas. Invantech, now known as SBS Group Charlotte, brings over 10 years of experience in the Southeast.

 

BLYTHECO ADDS SUGARCRM

Laguna Hills, Calif. - Top Sage reseller Blytheco has added SugarCRM to its overall offerings, marking the first non-Sage product represented by the firm since it was formed in 1980. Blytheco will sell SugarCRM's Software-as-a-Service-based CRM offering to its customers, who had been looking to the firm for such an off-premises product. The firm also represents a wide range of Sage products.

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