24SevenOffice Group AB has acquired IP and customers of INBooks Flow and INBooks GO
24SevenOffice Group AB has successfully acquired the intellectual property rights, software and customers for the accounting and management platform INBooks Flow and INBooks GO for SEK 200 000. INBooks has an ARR of close to MSEK 3 and has spent roughly MSEK 100 developing their full platform, including INBooks Nest. The acquisition is expected to generate profits for 24SevenOffice from the start, with a significant up-sell potential across existing 24SevenOffice customers and partners.
INBooks Flow is an innovative and automated accounting management platform tailored for the dynamic needs of accounting firms, and includes project and task management, Know Your Customer (KYC) procedures, anti-money laundering compliance, and digital signing processes. Additionally, it facilitates the creation of agreements between accounting firms and their clients. INBooks GO is an automated accounting software tailored for micro-sized businesses.
The acquisition strengthens 24SevenOffice's position in the Swedish accounting market. In addition, it completes 24SevenOffice’s product offering towards thousands of existing and new accounting partners in the Nordics which presents a substantial up-sell potential for 24SevenOffice. INBooks Flow already includes partnerships with close to 200 accounting firms new to 24SevenOffice, while INBooks GO serves approximately 700 new direct customers. Key employees from INBooks will transition to 24SevenOffice, ensuring continuity and expertise within the organization and partners.
“Acquiring INBooks Flow and Go is a tremendous opportunity for 24SevenOffice, and I am excited that we have the chance to continue the journey bringing on their partners, customers and some of the exceptional INBooks employees with us in 24SevenOffice.” says Andreas Näslund, Country Manager 24SevenOffice Sweden.
“This is another important step in the right direction for our profitable growth plan in Sweden and our goal of becoming the best partner for the accounting firms in the Nordics. INBooks Flow also holds significant potential in the Norwegian market, as there currently isn't a comparable end-to-end solution of the same quality and price range available. I am truly excited to see what this can bring for the company and our partners ahead.” says Eirik Aalvik Stranden, CEO of 24SevenOffice Group.
For further information please contact:
Eirik Aalvik Stranden, CEO
Tel: +47 247 00 030, eas@24sevenoffice.com
Brief about 24SevenOffice:
24SevenOffice's vision is to empower businesses for the future by delivering first-class business systems based on cloud technology. The business system is modular, with modules offered separately or as complete solutions. For more information, see www.24sevenoffice.com.