FTI Consulting handled UK-based Sage Group’s $850M deal to acquire Silicon Valley’s Intacct Corp., provider of cloud-based accounting software company.
Stephen Kelly, CEO of Sage, called the deal another major step forward in winning new customers at scale and supporting his cloud-first acquisitions strategy.
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Charles Palmer (L) & Dwight Burden“Intacct opens up huge opportunities in the North American market, representing over half of our total addressable market,” he said.
With the completion of the deal, Intacct will be recast as Sage Intacct and led by current CEO Robert Reid.
The company has an 11,000 customer base. It recorded $67M in revenues for the fiscal 2016 ended June and a $23M pretax loss.
Byron Deeter, an investor and former board member, told TechCrunch: “Intacct is at the scale where they could be a public company today, but instead chose to partner with Sage given the nature of the deal, and the opportunity to have a broader impact together.”
FTI’s Charles Palmer and Dwight Burden guided Sage’s takeover of Intacct.
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