Abacus Next, which is backed by Providence Equity, has acquired Cloudnine Realtime, a cloud solutions provider for CPA firms and Results Software, a provider of customer relationship management software for QuickBooks users. No financial terms were disclosed for either acquisition.
SAN DIEGO, CA–(Marketwired – February 21, 2017) – Abacus Next® (Abacus), the leading turnkey technology solutions provider for legal professionals, is pleased to announce the acquisition of Cloudnine Realtime (Cloudnine), an industry-leading cloud solutions provider for CPA firms, and Results Software (Results), an award-winning Customer Relationship Management (CRM) software for QuickBooks® users. With these two acquisitions, Abacus makes a grand entrance into the CPA vertical and positions the company as the largest TaaS (Technology as a Service) solutions provider in the Professional Services Industry.
Highlights of Acquisitions:
Abacus was established in 1983 and developed the first Practice Management Software (PMS) for lawyers, AbacusLaw, a case management, time, billing, and accounting solution with over 250,000 clients worldwide. In 2014, Abacus pioneered the only Compliance-Ready, Suite of Private Cloud Solutions designed exclusively to enable fully integrated desktop, email, mobile and cloud applications in a single, secure and fully managed technology environment. In May of 2016 Abacus acquired Toronto-based Gavel & Gown, makers of Amicus Attorney™ CMS with over 150,000 clients.
Cloudnine Realtime is a managed services cloud provider that specializes in hosting over 1,000 business applications primarily for the CPA vertical, including Intuit QuickBooks®, Sage, and Microsoft Solutions.
Results Software provides business management CRM software that integrates with Intuit QuickBooks®, Constant Contact®, Microsoft® Outlook, SharePoint®, Google Gmail™, TSheets, SmartVault®, and Citrix ShareFile®.
Together, these acquisitions provide Abacus a gateway into tax, accounting, finance, and construction markets, among others, as well as new partnership opportunities.
Headquartered in California, Abacus is backed by private investment with Providence Equity.
Abacus has over 34 years of experience enabling legal professionals to automate their practice, increase performance, comply with the strictest regulations and eliminate the capital expenditures of IT infrastructure.
Leveraging the accounting industry knowledge and customer insight that Cloudnine and Results have will further enhance Abacus’ technology solutions that help grow organizations and maintain their business continuity.
“The Abacus Next portfolio of solutions serve the needs of businesses at every stage of the customer lifecycle,” said Alessandra Lezama, CEO of Abacus. “Busy lawyers and CPAs are not only looking to streamline their practices with technology, but are also dedicated to finding ways to grow their firms. Cloudnine and Results fit perfectly into our cross market strategy, and these acquisitions mark a milestone in the transformation of Abacus into a turnkey services provider that can deliver on customers’ complete range of technology demands.”
“I’m very proud of the Cloudnine team and the relationships we enjoy with our customers. We have a strong history of serving the accounting industry,” said Robert Chandler, Founder and CEO of Cloudnine. “Abacus and Cloudnine are naturally symbiotic, as we’re both driven to building cloud solutions for the complete range of demands of the CPA and financial industry, from start-up to enterprise. Together, we will provide even more value for our customers and introduce new solutions to help their businesses grow.”
“While delivering Results to growing businesses, we hear first-hand their desire to move away from having their own servers and managing their own IT, to a cloud-based, reliable and secure platform,” said Sam Saab, President & Founder of Results. “Abacus’ Private Cloud solutions are exactly what our clients have been asking for. By combining Results and Abacus, our clients can now focus on their core strength and expertise in running their business, while working from anywhere, and on any device.”
As the offerings are integrated, the combined client base will benefit from one of the most compelling products and services portfolio in the industry, with a broad offering to support customer growth that includes private cloud hosting, Desktop-as-a-Service (DaaS), software solutions, IT infrastructure management, security endpoint protection, and business automation. Similarly, the integrated support, development, and engineering teams will result in enhanced development velocity, allowing Abacus to continue improving performance, and bring new solutions, features, and functionality to market faster.
About Abacus Next
Abacus Next® helps businesses with stringent security and compliance needs grow by providing Compliance-Ready™ turnkey technology solutions, allowing our clients to leverage the power of cloud computing without the added challenges and expenses of managing complex IT infrastructures on their own. As an end-to-end solutions provider, our products and services portfolio includes virtual desktop (DaaS), private cloud, case management software (CMS), email hosting services, security endpoint protection, business continuity (BCP), and on-premise solutions. Since 1983, we have delivered on-demand services to over 500,000 businesses worldwide, and are recognized by Forbes as one of America’s fastest growing companies. For more information, please visit www.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
About Cloudnine Realtime
Cloudnine Realtime is an accredited, managed service provider delivering custom cloud solutions for anytime, anywhere access. An Inc. 5000 company for three years running, Cloudnine has been voted “Best Hosting Company” by the CPA Practice Advisor Readers’ Choice Award 5 years in a row. Since 2010, Cloudnine has been recognized as an industry leader because it builds its services and processes around the client experience, always seeking top satisfaction. For more information, please visit www.cloudninerealtime.com
About Results Software
Results Software provides Customer Relationship Management (CRM) and business management solutions to a diverse client base that includes small businesses, enterprises, and nonprofits. Founded in 1985, its award-winning Results CRM software and services has helped organizations of all sizes streamline their operations, improve efficiencies, and increase overall performance. For more information, please visit www.results-software.com