IRIS Software Group acquires Practice Engine

IRIS Software Group is today announcing it has acquired Practice Engine, a leading global supplier of cloud-based practice management software.

Founded in 1994, Practice Engine is used by the largest accounting practices in the US, UK and Ireland. Its cloud-based solution controls workflow to ensure accountancy professionals deliver expertise to their customers on time and on budget. Practice Engine is used by 32% of the top 50 UK firms, 40% of the top 20 in Ireland and 17 Top 100 US accountancy practices.

The acquisition extends the IRIS portfolio to offer a specific solution for the needs of every size of business, from small practices through to the largest national and international firms.

Kevin Dady, CEO of IRIS Software Group says, “I’m delighted to welcome such a successful business to IRIS Software Group to extend the breadth and depth of our portfolio for national and international accountancy practices. Our mission is to be the most trusted provider of mission critical software and services, empowering firms to deliver best-in-class core compliance services and thrive in the digital economy.”

More than 21,000 UK accountancy firms rely on IRIS to run their business and over 650,000 SMEs use IRIS applications. Customers use IRIS products to submit over three million tax returns to HMRC and over 1.1 million online statutory documents to Companies House, representing over 40% of all third-party submissions.

Mike Francis, founder and CEO of Practice Engine says, “The IRIS credentials are without doubt, the best in the industry. We see tremendous value for Practice Engine customers and staff joining IRIS Software Group. The two companies are a great cultural fit and we look forward to adding to the current depth of experience and capability.”