Priority Software Ltd., an Israel-based provider of ERP solutions, has acquired N.J.-based Acclivity, which makes small business accounting software, including the product AccountEdge.
The terms of the deal were not disclosed.
The acquisition is part of Priority’s plan for global expansion, and follows the company’s purchase of Monitin Information Systems ERP, also based in Israel, last year. Priority established a U.S. office in 2016 after it bought Reston, Va.-based ERP consulting and services firm Performa Apps.
Priority’s ERP software is available both on premise and online. It is targeted at the small to medium enterprise market, offering an alternative to the complex, and sometimes costly, traditional ERP systems from large vendors. Acclivity, on the other hand, serves small businesses in a variety of industries, with a product suite that includes basic and professional versions of AccountEdge, its accounting software; a point-of-sale system; and Rerun, a recurring billing solution.
"As we welcome Acclivity, its employees and customers, into Priority's group of companies, we believe that their expertise in small business accounting solutions will greatly contribute towards expanding our product offering," said Priority CEO Andres Richter in a statement. "We are united by a common business culture and the desire to deliver quality solutions that serve customers' real needs. There is a great synergy between our two companies and the acquisition now makes Priority a contender in the small business accounting software market in North America, enhancing the company’s future growth and performance from both lines of business. Acclivity brings in excellent products and an established consumer base of over 75,000 satisfied customers."
"We’ve found a partner in Priority who both values our existing AccountEdge products and customers, while recognizing the opportunity for Priority’s solutions in the U.S., especially with the growing search for robust cloud solutions” added Acclivity co-founder Tom Nash.
