Kaseya to Acquire Accounting Software Developer ObjAcct
Kaseya International Ltd., a maker of IT management solutions, said last week that it will purchase ObjAcct Inc., a Bowling Green, OH-based developer of accounting software and XML web services.
Terms of the transaction were not disclosed.
ObjAcct's flagship product, the ObjAcct XML Accounting Suite, can be deployed as an SaaS, on demand application on the Internet or as an on-premise, server-based product.
Kaseya said that it will integrate the ObjAcct Accounting Suite into its systems and service management platform as Kaseya Financials for IT Services, adding to the Billing for IT Services application it gained from purchasing Datatune Inc. last year.
The company said that the acquisition rounds out its IT systems management solution to include "money, people and IT assets," offering customers an innovative way to view systems and service management.
"I am very excited to have the ObjAcct team join Kaseya on this quest to fill in the blanks in the next generation of IT systems," said Gerald Blackie, Kaseya chairman and chief executive.
Lee Mellinger, ObjAcct founder and chief executive, called the deal "a perfect fit for ObjAcct, and the entire ObjAcct team is excited to be part of Kaseya's hard charging entrepreneurial environment."
Mellinger was part of a team that crafted the ObjAcct software, which provides full-featured accounting to small- and medium-size businesses and mid-market customers.