Unit 4 Agresso creates new company with minority investment from salesforce.com
30 September 200920090930
- Unit 4 Agresso to launch a new company to develop, sell and support the only accounting application delivered in the cloud 100% on the Force.com platform
- # FinancialForce.com is a spinoff from Unit 4 Agresso; salesforce.com is a minority investor in the new company, Unit 4 Agresso retains the controlling stake in the company
- Investment represents significant commitment to accounting in the cloud
Unit 4 Agresso (NYSE Euronext: U4AGR), parent company of financial software specialist CODA has announced that it has joined forces with salesforce.com (NYSE:CRM), the enterprise cloud computing company, to create FinancialForce.com, a new company that delivers finance and accounting applications in the cloud. Both Unit 4 Agresso and salesforce.com are investing in FinancialForce.com, which leverages CODA’s cloud accounting application formerly known as CODA 2go, which has been transferred into this new company. FinancialForce.com is a spinoff from Unit 4 Agresso and salesforce.com is a minority investor in the new company while Unit 4 Agresso retains the controlling stake in the company.
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