RALEIGH – Insightsoftware, formed only two years ago, continues to grow rapidly internationally, announcing Thursday its 11th acquisition since the firm’s formation by two private equity firms. It’s also expanding a swelling portfolio of service offerings and is adding a company with a strong “A” list of clients.
The latest deal is for Longview Solutions, a Toronto-based provider of financial planning and tax software.
Longview customers include Deloitte, Samsung, Shell, BMW, Vodafone and Hasbro.
“With the Longview acquisition, insightsoftware adds corporate tax capabilities, a high-growth area for multinational companies as they look to streamline tax reporting processes across countries and improve strategic decision-making,” a spokesperson for the company says.
Financial terms were not disclosed.
“While digital transformation is revolutionizing other areas of global enterprises, the Office of the CFO continues to struggle with a disjointed and inefficient process for reporting on key operational, financial, and tax data,” said Mike Lipps, Insightsoftware’s CEO. “Longview’s focus on creating ‘Connected Finance’ aligns with our vision of empowering finance teams with intelligent solutions that automate, accelerate, and visualize the end-to-end financial management process to drive more informed, strategic decisions in real time.”
Insightsoftware’s efforts include the global ERP [enterprise resource planning] market which it says is now worth $31 billion annual.
Research firm Market Research Engine in a recent report said the ERP market will grow to nearly $50 billion by 2024.
Thursday’s deal helps Insightsoftware’s strategy to “build a market-leading solutions portfolio to help enterprises automate and simplify the complex financial reporting requirements of the Office of the CFO,” the spokesperson adds.
Insightsoftware now operates across 17 countries.
It’s also adding employees.
Operating from a new headquarters in Raleigh, Insightsoftware is looking to fill more than 60 jobs. There are “more plans for continued growth this year,” the spokesperson adds.
The firm added almost 160 new workers in 2019.
Insightsoftware says it now has more than 700 enterprise customers in more than 100 countries.