Oxygen acquires Intacct to boost local SMB offering

Mike Smith, chief executive of Oxygen said the company had previously focused solely on enterprise customers and the acquisition provided an opportunity to penetrate the SMB space.

“This move gives us a wider addressable market. There are thousands of SMBs whose business would be suitable for an SAP solution,” he said.

Based in Melbourne, Intacct has 12 staff and services customers including Aquanita Racing, Dunbier Marine, MOR Cosmetics, Maton Guitars and TCL Electronics.

“The acquisition strengthens our presence in the SME market and completes our product offering to match SAP’s,” said Smith. “We will be able to expand our reach into other product areas of SAP and take the company new places.”

The announcement follows the release of OxygenExpress, the Oxygen branded SAP solution for SMBs. Patrick Saundry, managing director and founder, Intacct has been appointed general manager of OxygenExpress and will report to Mike Smith at Oxygen. Saundry’s appointment is the only organisational change that has arisen as a result of the acquisition.

“Intacct will continue to run as a separate business. We want to remain relevant to SAP, this gives us a chance to market and install these suites.” said Smith.

Oxygen could not reveal the purchase price, although Smith stated that it was a standard UXC acquisition that consisted of a combined cash and share payment.