Kaseya Buys Accounting Suite Developer ObjAcct

By Channel Insider Staff

IT systems management software developer Kaseya announced the acquisition of substantially all of the assets of ObjAcct, maker of the ObjAcct XML Accounting Suite. The acquisition, according to Kaseya, will allow IT professionals to analyze and report combined technical and financial data to assist in the alignment of IT with the overall business goals of the organization.

Kaseya will integrate the ObjAcct XML Accounting Suite into the Kaseya systems and service management platform, creating a way for IT professionals to capture and monetize the costs associated with the delivery of IT services. The ObjAcct XML Accounting Suite will become Kaseya Financials for IT Services, a new element of the Kaseya core framework.

The company said when combined with the Billing for IT Services application derived from the 2009 acquisition of the assets of Datatune, Kaseya now has the components required to complete its development of an integrated IT systems management solution encompassing money, people and IT assets, offering a new way to look at IT systems management and IT service management (ITSM).

"I am very excited to have the ObjAcct team join Kaseya on this quest to fill in the blanks in the next generation of IT systems," said Gerald Blackie, chairman and CEO of Kaseya. "ObjAcct founder and CEO Lee Mellinger and his team are stars, having worked on and written some of the best financial systems in the world. Their efforts on ObjAcct XML Accounting Suite is a credit to their profession, and we think the ObjAcct XML Accounting Suite will help us greatly in reshaping IT for decades to come."

Designed by former Solomon and Microsoft employees, ObjAcct Suite was engineered to allow vertical market and software-as-a-service (SAAS) software companies to embed full-featured small to medium-size business (SMB) and midmarket accounting functionality into their product lines using an API of more than 3000 XML Web services. "Kaseya is a perfect fit for ObjAcct, and the entire ObjAcct team is excited to be part of the Kaseya hard charging entrepreneurial environment," said Mellinger.

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This article was originally published on 2010-11-08