Bright, a UK and Ireland-based accounting, practice management and payroll software provider, has struck a deal to acquire UK based tax software firm, BTCSoftware Ltd.
The investment in BTCSoftware further demonstrates Bright’s commitment to delivering UK customers with best-in-breed products, following on from its investment in AccountancyManager in March of this year. The move is part of its long-term strategy to offer an intuitive, integrated and end-to-end cloud accounting software solution to accounting firms and SMEs.
BTCSoftware was founded in 1999 by Rob Ellis, and Ian Katté. Rob, and current chief business development officer, Paul Oldridge, will both be joining Bright as part of the acquisition.
The company has made its name as a tax software expert with accounts production, corporation tax and self-assessment tax return modules. It also launched its SaaS (software as a service) solution, BTCHub, in 2018. The solution enables accountants to comply with Making Tax Digital (MTD) VAT software rules and is integrated with HMRC and Companies House.
Bright develops and delivers innovative accounting, practice management and payroll software. Formed in 2021, Bright also includes BrightPay, a leading payroll and HR software, as well as Surf Accounts and Surf Accounts Production, cloud-based bookkeeping and accounts production solutions.
Kevin McCallum, Chief Executive Officer of Bright, said: “This acquisition is another key milestone for Bright, and BTCSoftware’s tax offering adds another all-important solution to our portfolio. It joins Bright with a well-renowned reputation across its customer base and throughout the wider industry.
“Its ethos of innovation, its value placed on customer support and its understanding of tax, accounting and what firms and accountants need, is second to none. It’s why we chose BTCSoftware to be the latest solution to join Bright and help us hit our goal of delivering an end-to-end cloud practice suite with compliance tools for the UK and Irish market.
“I’d like to thank all those involved for their support in completing the acquisition. We’re looking forward to welcoming the BTCSoftware team into the Bright fold, and we know that their expertise and knowledge of tax software will be a fantastic addition to the amazing talent we already have on offer. With Bright’s backing, we can continue to help make tax easy for accountants and bookkeepers.
“One of our first important steps will be to support the rollout of the BTCSoftware MTD for Income Tax Self-Assessment solution, combining their expertise in Making Tax Digital with our resources to bring a product to ease the process for accountants and their clients.”
BTCSoftware’s team of 20 are to become a part of the Bright workforce, with Rob Ellis assuming the role of Product Director – UK Tax.
Commenting on the acquisition Rob, said:
“Since Ian and I began working on the first iteration of BTCSoftware in 1999, a core value for the business has been approaching change with an open mind and creative spirit. Bright’s vision closely aligns to ours, making this a natural and exciting step for BTCSoftware that will expand the scope of what we can achieve for accountants in the future.
“I am proud of what BTCSoftware has grown into, and what we’ve achieved along the way. Innovation and imagination have always been deeply ingrained in how we work, and Bright is a place where innovation thrives. Joining Bright opens up the horizons for users across the software in the group, in the long-term becoming an integrated part of a complete accounting solution with practice management, accounting, tax and payroll.
“Everyone at BTCSoftware is excited to be joining Bright and we’re looking forward to bringing this opportunity for innovation to life.“
Following the acquisition, Bright’s software supports over 11,000 accounting practices and more than 30,000 small to medium-sized businesses across Ireland and the UK, with a headcount of almost 300 people. It currently has offices in Duleek and Dublin, Ireland, Warwick, UK and in Kolkata, India.
For more information about Bright, visit www.brightsg.com.