Financial and technology consulting firm Accordion has acquired ABACI, an enterprise resourcing planning (ERP) and enterprise performance management (EPM) consultancy specializing in NetSuite and Adaptive Planning.
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Accordion Acquires ABACI
Accordion, founded in 2009, is based in New York, New York. The company has 310 employees listed on LinkedIn. Accordion’s areas of expertise include financial services, consulting, strategic finance, finance transformation, transaction execution services, financial accounting and advisory services, operational accounting, technical accounting and performance improvement.
ABACI, founded in 2015, is based in Atlanta, Georgia. The company has 54 employees listed on LinkedIn. ABACI’s areas of expertise include NetSuite, NetSuite consulting, NetSuite Solution Provider, NetSuite partner, NetSuite implementation, NetSuite custom development, scripting and integration, Adaptive Insights, ERP, budgeting, planning and forecasting, NetSuite SuiteCommerce/SCA, NetSuite Site Builder, OpenAir, SuiteSuccess and NetSuite ARM/Revenue Recognition.
The acquisition of ABACI, which follows the recent acquisition of EPM consulting firm Platform Specialists, will broaden the CFO technology-related solutions that Accordion delivers to customers, according to the companies. The acquisition will add 36 professionals to Accordion’s headcount in FinTech advisory and finance digital enablement. It will also increase Accordion’s expanding regional footprint with a formal office in Atlanta, the companies said.
Accordion Acquires ABACI: Executive Insight
Nick Leopard, CEO, Accordion, commented on the news:
“This acquisition is a perfect fit in our CFO Tech strategy. Adding ABACI into the Accordion family completes an essential piece of our functional-specific technology practice. And that technology has never been more important to PE-backed CFOs, or their sponsors. Whether it's technology to increase data visibility, to evaluate liquidity, to automate inefficient processes, or to combine operational and financial metrics for a more accurate picture of company performance, the right investment in the right tech stack is critical and urgent. Our clients will benefit from ABACI’s deep familiarity with PE-backed companies and their unrivaled experience implementing NetSuite and Adaptive Planning. ABACI’s clients will benefit from a more holistic suite of CFO services. And all our employees will benefit from the merging of two companies that put their people first. As I said, it’s a perfect fit.”
John Moser, president and CEO, ABACI, added:
“Accordion is the right match for our team and our clients, right now and in the future. Not only will this acquisition provide our clients with a broader suite of CFO-related technology expertise and more fulsome support for process-driven efficiency, it will introduce them to a like-minded team of experts who roll up their sleeves and do the work. Much like ABACI, Accordion values people above and beyond all else. We value creating a performance-based culture, where we can help our people achieve their goals and aspirations, and reward them on their hard work. We value entrepreneurialism and agility, as well as creating an inviting and enticing workplace. We value working alongside the diligent, but often resource-constrained, members of finance teams with whom we get in the trenches and deliver exceptional results. This acquisition makes that ‘we’ bigger and better for our people and our clients. We couldn’t be more excited to be part of the Accordion team.”