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July 16, 1997updated 05 Sep 2016 12:55pm

SPEEDWARE SPINS OUT ITS ACCOUNTANCY ARM

By CBR Staff Writer

Former employees at Speedware Corp have bought out the Canadian company’s accounting product Speedware Financials and have entered into a value added reseller agreement to sell the software. UltrAcc Solutions Inc, the new owner, has renamed the product UltrAcc Financials and will assume the customer list and source code for the software, along with customer service and support. Toronto-based Speedware says it will now be free to concentrate on its fast growing Internet commerce and business intelligence software products. Speedware started life in the proprietary Hewlett-Packard Co 3000 field and a couple of years ago adapted its proprietary language technology to the Internet (CI No 2,767). It’s been shopping around since then, and last year it acquired Software AG’s Esperant Division for its graphical database tools (CI No 3,035).

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