Thu, 27 Jun 2024 | BUSINESS SALE
Ireland-headquartered tax, accounting, finance and payroll software firm Bright has acquired Milton Keynes-based MyWorkpapers in a deal that significantly expands its product portfolio.
Founded in 2009 and initially operating a flagship auditing application, MyWorkpapers has expanded to offer a full suite of specialised workpaper packs covering all engagements undertaken by accountancy firms. The company’s software is designed to improve efficiency and collaboration, while also ensuring workflow production and compliance.
MyWorkpapers Chief Executive Rich Neal said the firm had initially explored “an integration with Bright products”, but subsequently identified “the opportunity for an even deeper relationship to provide a true, end-to-end, cloud solution.”
Neal stated that uniting the expertise of the two companies will enable them to “expand upon the integrated, cloud-native accounting suite for all types of engagements.”
He continued: “The formation of this new relationship further builds on our strength – enhancing the daily operations and capabilities of accounting firms in the UK and Ireland.”
"We believe this combination, together with our continued collaboration with other solution providers, will offer customers more choice in their software solutions and how they deliver value to their clients."
Bright Chief Executive Stephen Murdoch said that, as the company seeks to expand its offering and enhance value for customers, “any new addition to the Bright family must share our customer-centric approach.”
He added: "After getting to know the MyWorkpapers team, we're thrilled that they share our values and commitment to enabling accountants to deliver high-quality efficient services to their clients.”
"This is a significant milestone in Bright's mission to further support businesses and accounting professionals across the UK and Ireland."
Software is one of the key factors driving a growing trend of consolidation in the UK accounting sector
This established firm in West Yorkshire offers a significant opportunity with £160 million funds under management and a stable office and staff base, providing continuity post-acquisition.
This is a rare opportunity to acquire a highly profitable client bank with an average portfolio size above £800,000.
This unique opportunity offers you the chance to acquire a well-established accountancy practice with a loyal client base and strong recurring revenue, located in Bristol.
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