California tech firm acquires NH’s Commercial LogicBy KIMBERLEY HAAS
Union Leader Correspondent
January 01. 2018 9:05PM
DOVER — Commercial Logic in Dover, which specializes in practice management software for accounting firms, has been acquired by a technology solutions provider in California.
AbacusNext in San Diego works with legal and accounting professionals, and serves more than 500,000 businesses worldwide.
Alessandra Lezama, chief executive officer of AbacusNext, said negotiations began in August, after she was introduced to the founder of Commercial Logic by CPA thought leader Randy Johnston in the spirit of exploring partnership opportunities.
Lezama said Commercial Logic is a good fit for AbacusNext, and all local employees will keep their jobs. The acquisition brings AbacusNext’s workforce up to 465 employees.
“We are committed to providing accounting professionals with a comprehensive suite of cloud-enabled products and services. Commercial Logic has over the last 30 years catered to firms across the globe, providing workflow and project management automation solutions,” Lezama said.
The deal was finalized Dec. 21. Lezama could not disclose the purchase price.
Peter Coburn, president and founder of Commercial Logic, started the company in 1983. There are offices in Dover and Etna.
After the acquisition was finalized, Coburn said AbacusNext is the ideal partner to secure the continued growth of the company.
“By joining forces with AbacusNext, our clients will benefit from the substantial marketing, engineering and support resources at AbacusNext’s disposal and gain new access to CRM (customer relationship management), business management and private cloud solutions,” Coburn said in a press release.
AbacusNext is backed by private investment with Providence Equity, headquartered in Rhode Island.