Melbourne based startup Fifo, who are a emerging leader in the online accounting practice management software space in Australia, have announced that last week they were acquired by online accounting services giant Intuit.
Shane Macfalance, CEO of Fifo had this to say on the company blog “At Fifo, we’ve focused on helping accounting firms and bookkeepers around the world use online solutions to run a more efficient office and be more profitable. Now with the power of Intuit’s market-leading QuickBooks accounting and financial solutions, we’ll be able to accelerate the pace of delivery and dramatically increase the number of customers we can serve. This is a great day for our company, our customers, and accounting professionals around the world.”
Along with this announcement the service Fifo provided is now free for both accountants and book keepers.
Intuit also took to their blog to announce the acquisition saying “Fifo’s innovative cloud technology is helping make accounting and bookkeeping firms around the world more efficient, more profitable, while improving their cash flow and growth. By joining Intuit, our combined teams will be able to solve big problems for accountants and bookkeepers, helping them save time and better collaborate with clients.”
The purchase price for the business remains undisclosed.