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CODA 2GO PLUS SALESFORCE EQUALS FINANCIALFORCE.COM

Financial force logoA minority investment by Salesforce.com plus the Web-based product recently known as Coda2Go has yielded a new company called FinancialForce.com. The new company is a combination of the Salesforce money along with the product from Coda, whose parent, Unit4 Agresso, also owns the Agresso ERP line.

 

The new company is headquartered in San Mateo, Calif., not far from downtown Oracleville. The company's enterprise line of software includes Accounting and Billing products, both bearing the FinancialForce name. Although this is not midmarket software, the thought has occurred to me that with the growth of Infor and now Agresso, which claims to be the fourth largest ERP software publisher in the world, a set of vendors has emerged that has the potential to buy a midmarket line if any of these companies decide they want to span mid-range to high-end. In August, Unit4 Agresso reported results for the first half ended June 30. That showed revenue dropping 2 percent to $297.8 million. After tax income, including a deduction for discontinued operations, fell to $5.4 million, down 68.6 percent. Percentages are based on results in pounds.
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