SAN RAMON, Calif. and NAPERVILLE, Ill., Aug. 27, 2012 (GLOBE NEWSWIRE) -- Armanino McKennaLLP (www.amllp.com), the largest California-based accounting and business consulting firm, announced it has acquired AccessTek, a Midwest firm specializing in cloud financial management solutions and a major value added reseller (VAR) of Intacct enterprise resource planning (ERP) software. The acquisition, effective September 1, will create one of the largest Intacct partnerships in the nation.
AccessTek Founder and Chief Executive Officer Lindy Antonelli will join Armanino McKenna as a partner on September 1. The entire AccessTek team of six employees will also join Armanino McKenna. The move establishes a Midwest consulting footprint for Armanino McKenna, which will operate from AccessTek's offices near Chicago.
The AccessTek acquisition is part of a larger Armanino McKenna strategy to identify best-in-class software partners that are aligned with the firm's strategic practice areas and merge them into the firm's consulting practice, says Matt Armanino, chief operating officer and a senior consulting partner of Armanino McKenna.
"We're thrilled to add AccessTek to our consulting team to support our mission to bring comprehensive, world-class software solutions to clients across the country," Armanino says. "Our strategy has allowed us to grow in targeted areas of practice with superb economic results."
Armanino McKenna's business and IT consulting practice – Armanino Consulting – is one of the fastest growing in the U.S. In 2011, Armanino Consulting grew 62-percent from the previous year and was recently named by Accounting Today magazine as the eighth largest VAR in the nation. Armanino points out that in the past two years, the firm has acquired or merged in OneSource, Factory IMS, Gateway Solutions and now, AccessTek.
Antonelli says clients large and small will benefit significantly from the expertise of the combined firm and from cloud-based software.
"Smaller companies currently using QuickBooks will want to implement cloud products to facilitate growth as they scale," Antonelli says. "Larger companies with legacy systems will be able to significantly improve their efficiency with cloud software. These products remove much of the risk inherent with large IT projects and because they are mostly subscription based, there is also very low total cost of ownership."
In addition to AccessTek, Antonelli also founded the Cloud Accounting Institute (CAI), an educational clearinghouse for cloud finance technology. Antonelli is a recognized expert on cloud financial, ERP and Customer Relationship Management solutions. She is a sought after speaker at conventions, meetings and other platforms throughout the United States as well as an author of numerous articles on these topics.
AccessTek was named to both the 2011 and 2012 Intacct President's Club. In 2011 AccessTek was recognized as Intacct Partner of the Year, and in 2012 received the Intacct Sales Award.
"This deal blends two consulting teams that are quickly gaining a reputation for innovation in helping businesses improve their competitive positions through the deep understanding of business processes," says Intacct CEO, Robert Reid. "The strategic application of a new generation of cloud Financial Management software that is flexible, customizable and cost-effective provides the solution that enables companies to grow faster. We are very excited about the expanded partnership with Armanino Consulting to help our mutual customers achieve success."
Armanino adds that the combined firm is committed to technical education around business processes and the new generation of fast ROI technology.
About Armanino McKenna and Armanino Consulting
Headquartered in San Ramon, California, Armanino McKennaLLP (www.amllp.com) is the 35th largest accounting and business consulting firm in the nation by revenue with more than 370 employees at offices in San Francisco and San Jose, California; Naperville, Illinois; Portland, Oregon and Seattle, Washington. It provides a full suite of professional financial and accounting services in attest, tax and auditing. Armanino Consulting, a practice area of Armanino McKenna, provides comprehensive services to the CFO organizations of fast-growing companies, including Microsoft Dynamics Implementation services, CFO Advisory and Outsourcing services.
About Intacct
Intacct is the cloud financial management company. Bringing cloud computing to finance and accounting, Intacct's award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications, in use by more than 5,000 organizations from startups to public companies, are designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers offer Intacct to their clients. The Intacct system includes accounting, contract management, revenue management, project and fund accounting, inventory management, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing. Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.