Global private equity firm The Riverside Company has acquired UK-based InTouch Accounting, to add it to its Brookson platform.
InTouch provides accountancy and related services to freelance professionals, using both technology and consultants to fulfil accounting tasks. The company offers clients an accountancy portal, which allows users to perform simple tasks such as creating invoices, adding expenses and checking finances.
Brookson offers clients a real-time financial and management information to support accounting teams. The company offers a range of services including tax planning, business expenses, banking and insurance services, among others.
Through the acquisition, InTouch will enhance Brookson’s product by adding addition accountancy services including IR35 reviews, annual tax return services, and a range of business and tax advice.
Riverside partner Martin Scott said, “The addition of InTouch expands Brookson’s customer base, creates a strong network for referrals and enhances capabilities.â€
Riverside initially partnered with Brookson in late 2014, and since then has helped it boost its solution with the add-ons of 1st Group and Boomerang Support Services.
The firm has a selection of other FinTech solutions in its portfolio including insurance software developer fadata, and payment processing and management company Greenphire.
A selection of accounting companies have also raised capital this year, with record to report solution developer Trintech completing a recapitalisation by Summit Partners. Another recent investment saw Calero Software acquire telecom expense management company Comview Corporation.
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