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IRIS joins forces with PTP

11th Oct 2006
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11th October 2006 -- Today, IRIS Software, a leading provider of software to UK Accounting Practices and small businesses, has agreed to acquire PTP Software Ltd and Professional Tax Practice Ltd, which provide tax software and specialist tax consultancy services to UK accounting practices.

PTP, which was founded by Tim Good and Steve Mayhew approximately 16 years ago, has built an excellent reputation for its expertise in the tax software market, focusing primarily on small practices and sole practitioners. In the 2004 ICAEW “IT in Accountancy” survey, the PTP Personal Tax product was rated joint 1st with IRIS with a 97% willingness to recommend.

The enlarged IRIS Group will generate revenues of more than £42m and will employ approximately 360 people.

Martin Leuw, IRIS Group Chief Executive said: “We are delighted that PTP is joining the IRIS family. It will be “business as usual”, with no major changes to the PTP products or the way they do business ensuring that all customers are totally unaffected by this acquisition. However, both teams will be working very closely together to further enhance all of our offerings.”

Tim Good, Managing Director of PTP commented: “We are delighted to join forces with IRIS. The combination of IRIS and PTP is a strong one that will create an excellent synergy within which our staff, products and customers will all benefit.”

About IRIS
IRIS is independently recognised as one of the largest, fastest growing and successful independent software providers in the UK, servicing 40,000 businesses and 9,000 accountancy practices with its software solutions. Focused primarily on software applications that keep users up-to-date on regulatory, accounting and legislative change, IRIS business software solutions are amongst the most innovative in the industry; designed to support SMEs and their advisors.

IRIS is committed to a close interactive relationship with all of its customers. The result is an outstanding level of customer loyalty, recognized as amongst the highest in the industry, with 97% renewing their contracts each year.

IRIS is a Microsoft Gold Certified Partner and a member of BASDA. For more information, visit www.iris.co.uk

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