IRIS Software to acquire Dext

IRIS Software Group, a business support software provider, announced a definitive agreement to acquire bookkeeping and automation solutions company Dext. The two U.K.-based cloud platforms will unite their offerings to deliver a complementary, integrated, end-to-end solution for accountants, bookkeepers and businesses.  

"With today's exciting news, we are bringing together our amazing customers, partners, and employees to drive the future of tech in the accountancy industry," said IRIS Software Group CEO Elona Mortimer-Zhika. "We are doubling down on our promise to build and offer the most compliant cloud solutions that deliver our customers the highest levels of productivity and engagement, giving them back the critical time they need to advise their clients, grow their businesses, and do what they love. Accountancy has been the heartland of IRIS for 46 years; together with Dext we have a shared passion to be the biggest supporters and best champions of accountants, globally,"

Both IRIS and Dext share a general ledger-agnostic strategy, which eases the integration of their platforms as well as increases the number of accounting and bookkeeping solutions that can integrate with them.   

"Joining forces with IRIS marks an exciting new chapter for Dext," said Dext CEO Sabby Gill. "This partnership enables us to accelerate our product innovation, deepen our integration program, and deliver a complete, end-to-end solution to our customers. I look forward to working alongside the IRIS team to unlock new opportunities for our customers and offer our team members expanded opportunities for personal and professional growth,"

An IRIS spokesperson said that Dext's branding will remain the same. Upon closing, Dext will operate independently under CEO Sabby Gill and its operational structure, office locations and employees will remain unchanged. Combined, IRIS and Dext will employ approximately 4,000 staff globally. The spokesperson said that both companies have strong synergies in terms of core values and culture and are global organizations led by a highly experienced management team.

The acquisition comes three years after the two companies announced a partnership agreement in 2021, which brought Dext Prepare and  Dext Precision to IRIS.