US-based enterprise resource planning (ERP) vendor Insightsoftware has made a push into Australia through the acquisition of Sydney-headquartered Calumo.
According to Insightsoftware, the deal will increase its Australian customer base by 50 per cent, giving it access to the likes of Allens Linklaters, Macquarie University, Mainbrace Construction, NSW government and the University of Canberra.
Founded in 2004, Calumo provides a cloud-based platform with integrations to key enterprise systems such as Xero, Acumatica, Microsoft Dynamics Business Central, and NetSuite. According to Insightsoftware, the platform allows finance teams to build and update dashboards, reports and presentations.
Its current partner base includes the likes of Innovia Consulting and AccuNet, and previously included DXC Technology,
According to Calumo’s LinkedIn, in addition to its Australian presence, it also has a base in Dallas, Texas. Insightsoftware meanwhile is headquartered in Raleigh, North Carolina.
The merger of the two companies will also facilitate both to grow their presence across the wider Asia Pacific market.
"Our missions are so tightly aligned,” said Dominic Parsons, CEO of Calumo. “Insightsoftware represents the ideal growth partner for our people and our customers.
“They share a common vision for dramatically improving the lives of finance teams. By providing them better tools and instant, trusted data, those teams are freed to maximise their impact for the benefit of themselves and their organisations.
"With Insightsoftware's team and resources behind us, we can now rapidly accelerate the growth of our community bringing Calumo to the broader Asia Pacific region."
Insightsoftware claims that it serves 28,000 organisations worldwide, providing reporting, analytics, budgeting, forecasting, consolidation and tax solutions
"Mid-market companies across Asia Pacific have long been handcuffed by time-consuming data collection and manual analysis of data within their budgeting and planning process, so this deal is in line with our mission to empower finance teams with better, automated tools and real-time access to their data," said Shirley Riddick, the vendor’s general manager of Asia Pacific.
"With regional headquarters in Sydney and three other offices in the region, we are well-positioned to capitalise on new opportunities for Calumo budgeting and planning software.”