October 31, 2017
Menlo Park, CA – GrowthPoint advises Xcentric on its acquisition by Right Networks, a BV Investment Partners portfolio company.
GrowthPoint announced that it acted as the exclusive financial advisor to Xcentric on its acquisition by Right Networks. Headquartered in Atlanta, Xcentric is a leading provider of cloud hosting solutions and managed services to SMBs and mid-size accounting firms, helping them scale operations and more effectively manage and grow their practices.
Right Networks is a Hudson, NH based technology company that partners with CPA firms, accounting professionals, and SMBs to migrate their legacy applications into the cloud, provides fully managed services to customers as they accelerate their journey into the cloud, and offers training and support along the way. The company will continue to offer Xcentric’s complete cloud solution and plans to accelerate the growth of this customer base, while continuing to provide exceptional customer experiences.
“Our team was seeking the right partnership with a company that shared our mission, market focus and core values, so we could offer our customers even more value and accelerate our opportunity for growth. Right Networks has consistently demonstrated their leadership position in cloud-based accounting… We couldn’t be happier to be joining Right Networks,” said Trey James, CEO and co-founder of Xcentric.
“Xcentric has built a fantastic business over the years. It was a highly competitive process. We could not be happier for the Xcentric team to become a part of Right Networks. This is a highly strategic combination with a strong fit and significant potential for synergies,” said Vijay Rawat, Managing Director at GrowthPoint Technology Partners.
“We are delighted for Trey and Christian James, who cofounded the company and managed its growth and profitability. With their team, they solved a challenging set of problems with the Xcentric Platform that delivers great value to Accounting firms. I am proud that we delivered for Trey and his team as they chose GrowthPoint based purely on our merits,” said Michael Shepherd, Managing Director and founder at GrowthPoint.
For more information on this deal, please read the official press release.