IRIS Software & Services Announces Investment in Leading SaaS Application Vendor FreeAgent Central
IRIS and FreeAgent Central to embrace Cloud computing to expand IRIS product set for UK Accountants in Practice
IRIS Software & Services has completed a strategic equity investment in FreeAgent Central, the award winning online bookkeeping “software as a service” (SaaS) vendor, recently listed on the Telegraph High Growth Index for privately-held UK firms.
Phill Robinson, managing director of IRIS Accountancy Practice Solutions (APS), joins the board of directors at FreeAgent. This agreement reflects the IRIS commitment to investing in, developing and supporting, hosted applications and solutions that can be delivered to its customers through the Cloud, that provide complementary services and drive greater productivity for their existing IRIS installations.
Under the terms of the agreement, IRIS APS will also gain exclusive rights to collaborate on and resell FreeAgent Central developed products and services to UK accountancy firms. FreeAgent Central, will continue to sell its existing service directly to the small business community.
Phill Robinson explains more: “We are delighted to announce our strategic partnership with FreeAgent Central to develop and deliver innovative new SaaS solutions for the UK Accountancy sector. IRIS is committed to exploiting the benefits of the web for its customers, and this investment in FreeAgent Central is another example of that.”
Commenting on the strategic nature of the agreement, Ed Molyneux, chief executive officer of FreeAgent, said: “With more than 14,000 accountancy practices already using IRIS software, partnering with IRIS gives us wide and deep access to the sector and directly supports our high-growth business objectives. The faster we can reach this market, the sooner our products and service becomes the market leader.”
The FreeAgent online bookkeeping service is already used by thousands of freelancers, contractors and small businesses across the UK wanting to simplify their bookkeeping and accounts processes. It is a true SaaS application with both the platform and all client data hosted securely online.
IRIS Software & Services is the UK’s largest privately-held software company. It serves the UK accountancy sector under three brands; IRIS, PTP and Drummohr. It is the market-leading provider of fully integrated software and services to UK accountancy firms. The company has over 14,000 accountancy practices of all sizes and has 40 per cent of the country’s top 50 firms as clients. IRIS is headquartered in Datchet, UK. More details at: www.iris.co.uk as well as the company’s official CEO blog at: http://www.irisblogs.co.uk/
James Carter/Emily Gallagher
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