AbacusNext, which is backed by Providence Equity, has acquired Commercial Logic, a provider of practice management and workflow tools for accounting professionals. No financial terms were disclosed.
San Diego, CA, December 21, 2017 – AbacusNext®, the largest Technology-as- a-Service (TaaS) provider for the legal and accounting professions, today announced their acquisition of Commercial Logic, developers of practice management and workflow tools for accounting professionals.
“We are so pleased to welcome Commercial Logic into the AbacusNext family,” said Alessandra Lezama, CEO of AbacusNext. “Our shared values and client focused approach make them an ideal addition, and we look forward to augmenting their current offerings so clients can benefit from our broader scope and private cloud solutions.”
Commercial Logic has developed practice management and workflow tools with an exclusive focus on accounting firms for more than 30 years, as well as provided consulting services designed to help professional services companies streamline their internal processes.
“AbacusNext is an ideal partner to secure the continued growth of Commercial Logic,” said Peter Coburn, President and Founder of Commercial Logic. “By joining forces with AbacusNext, our clients will benefit from the substantial marketing, engineering and support resources at AbacusNext’s disposal and gain new access to CRM, business management, and private cloud solutions.”
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About Commercial Logic
Commercial Logic has specialized in practice management software for CPA firms since 1983, providing the tools and services required to manage successful practices. Commercial Logic, Inc. operates offices and datacenters for its Hosted Solution clients in Etna and Dover, New Hampshire.
As the largest Technology-as-a-Service (TaaS) provider for the professional services sector, AbacusNext helps legal and accounting professionals achieve ultimate success and peace of mind through the delivery of a complete suite of compliance-ready technology solutions designed to support a secure and cloud-enabled practice at a cost they can afford. Our portfolio of turnkey solutions includes hardware, software and infrastructure on a pay as you go model; Practice Management, Client Resource Management (CRM), Payment Processing, Email, Desktop as a Service (DaaS) and Managed IT.
Headquartered in San Diego, California, and backed by private investment with Providence Equity, AbacusNext delivers products and services to over 500,000 businesses worldwide. To sign up or learn more visit AbacusNext.com.
About Providence Equity
Providence is a premier global asset management firm with $45 billion in assets under management across complementary private equity and credit businesses. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 150 companies and is the leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, Rhode Island, and has offices in New York, London, Hong Kong, Singapore and New Delhi. For more information, please visit www.provequity.com.