Cegid has acquired Loop Software, which offers a collaborative cloud-based accounts management and taxation solution for accountants and small and medium-sized enterprises. Terms of the deal were not disclosed.
Loop was founded as a strategic partnership between KPMG France and a team of experts in web technologies. The solution is used by 35,000 clients who will join the 150,000 users of Cegid’s collaborative solution.
“In acquiring Loop, we are further enhancing our strategy towards the accounting sector,” said Pascal Houillon, CEO of Cegid in a statement. “As a leader, we are committed to positioning ourselves as trailblazers in the digital transformation of this sector. Combining Loop and its technology with our know-how and established expertise in this market will enable us to take up this challenge more quickly and with greater power.”