Kerry Agiasotis (The Access Group)
The Access Group is continuing to snap up financial independent software vendors (ISV), purchasing Queensland-headquartered business Fathom.
Started in 2012, the reporting, forecasting and financial insights business management vendor provides visualisations based on financial data.
Brisbane-based Fathom has offices in the US and UK, with a customer base of 7,500, who are based in 31 industries and 81 countries across Asia Pacific, UK, Europe and the US.
Kerry Agiasotis, Access’ Asia Pacific president, said the acquisition of Fathom, along with its purchase of Reckon Accountants Group back in May for $100 million, supports its commitment to SMEs and accounting firms in Australia and New Zealand (A/NZ).
“Like Fathom, seeking to empower business success is embedded in The Access Group’s DNA, which affirms our belief that this is the right next step for Fathom, our employees, and importantly, our customers,” added Fathom co-founder David Watson.
“Since day one, helping our customers build better businesses has been our top priority, and we’re confident that our partnership with Access will advance that mission. The experience, investment and resources Access brings to the table will help Fathom continue our global growth trajectory.”
The deal follows the business software provider’s purchase of HandiSoft as part of its acquisition of Sage Group's Australia and Asia businesses in June last year, which was another deal to bolster the business software provider’s stance in the accounting space.
