The major new player in the Australian accounting software market, giant US firm Intuit – makers of Quickbooks - has upped the ante in its quest for marketshare and customer acquisition, with a direct hit on competitor Xero.
New Zealand-based accounting software company Xero is likely to list in the US early in 2015 on the back of strong growth in the cloud market and its announcement that annual revenues have now reached over US100 million.
Online accounting software company Intuit, the maker of QuickBooks and a relative newcomer to the Australian market in its own right, is acquiring Australian start-up invicto and will integrate the young company’s cloud-based data extraction solution with its range of accounting offerings.
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