UK accountancy software player IRIS has acquired HR and payroll specialist Cascade to pump up its portfolio and add to its core business adding a human resources dimension to its existing applications.
The terms of the deals were undisclosed with Cascade, which formed in 1992, providing IRIS with an opportunity to tempt its 60,000 strong customer base with some HR solutions to go along with its payroll and bookkeeping products.
Cascade was formed in 1992 by Alan Jones and he will remain as managing director of the division of IRIS, and will join his fellow directors that are also coming with the business.
Jones said that the it had been aware of IRIS for quite some time and the deal marked the next step in the firm's evolution, "allowing us access to a whole range of resources, skills and ideas as well as the extensive IRIS client base".
In response, Phill Robinson, CEO of IRIS Software Group, said that Cascade would be an ideal fit with its payroll solutions and bolster its ambition of providing business critical solutions to SMEs.
“HR is a clear adjacency for our market and an area that has become increasingly complex for businesses in the past decade. Our joint goal is to make it easier for our customers," he added.