Sol6 buys exo-net

Australian software and services company Solution 6 is buying Auckland-based e-business software developer exo-net for $A30 million.

Australian software and services company Solution 6 is buying Auckland-based e-business software developer exo-net for $A30 million.

Exo-net, which is represented in New Zealand, Australia and Singapore, will be run independently from Solution 6.

The 50-staff company claims 2500 end-users for its e-business software, which ties an online store front with an accounting supply chain back end.

Tim Molloy, marketing manager of Solution 6, says exo-net’s enterprise resource planning (ERP) software, B2B e-commerce transaction engine and online Web shops will deliver a perfect fit with Solution 6’s e-business strategy.

Solution 6, which supplies accounting systems, taxation software and practice management system to chartered accountants, will make exo-net’s software available as an ASP (application service provider). Small and medium-sized businesses will be able to rent the software through their accountant’s Web site, with the software hosted by exo-net.

Thirty percent of exo-net software is sold through accountant resellers. Solution 6 says about half the accountants in New Zealand use its software including the Big Five firms. Molloy says through the acquisition exo-net gains access to the 14 countries in which Solution 6 operates.

Exo-net chief executive David McKee-Wright says has spent the past six months looking for capital and distribution partners for exo-net and has found both in Solution 6.

In Australia Solution 6 has been providing the SAP’s high end ERP software through an ASP since September last year.

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