Bluff Point Associates Acquires Swizznet to Fuel Leadership Position in Financial Application Hosting

Swizznet, a leading
provider of cloud services and IT resources to CPA firms and accounting
departments announced today that it has been acquired by Bluff Point
Associates.

Since launching the company in March 2007, Swizznet has become a leading player in the ITaaS space hosting Sage and QuickBooks applications in the SMB markets. Swizznet’s ease of use and Obsessive Support® model has been embraced by CPA practices and accounting firms both large and small looking for an affordable, cloud-based solution that is easy-to-use, reliable and secure.  

“We’re
thrilled that Bluff Point Associates believes in our growth potential as much
as we do,” said Mike Callan, CEO of Swizznet. “The completion of this
acquisition will allow for additional funding to capitalize on the market
opportunity and keep us on track with our expansion and product development
strategy. Additionally, we will fill vital sales and support roles that will
bolster our growing share of the market.” All of Swizznet’s experienced
management team and staff will remain with the business in their current roles.



As part of the transaction, Bluff Point Associates Managing Director Kevin Fahey will join the Swizznet Board of Directors. “We are very excited to partner with Mike and Kristin Callan and the Swizznet team to enhance its existing growth opportunities, but at the same time leverage their Obsessive Support® model that has proven to be truly differentiating in the marketplace.” he said.

Madison
Park Group acted as investment banking advisor to Bluff Point Associates on
this transaction.  Swizznet was
represented by Growth-Point Technology Partners, an investment bank based in
Silicon Valley.

About Swizznet:

Swizznet, a Sage-Authorized Partner, an Intuit-Authorized Commercial Hosting provider and a Microsoft Cloud Solution Provider, offers hosting solutions that empower accountants and businesses to free themselves from in-house infrastructure and IT headaches so that they can connect and collaborate from any computer or device. Swizznet offers an on-demand Marketplace and uses the latest cloud computing technology and tools to provide the fastest, most reliable cloud access to Sage and QuickBooks desktop applications. They backup their solution with Obsessive Support® and service, for the ultimate cloud accounting solution.

About
Bluff Point Associates:

Bluff Point Associates is a private equity firm based in Westport, Connecticut. Bluff Point actively invests in the healthcare information services sector as well as information services companies supporting the banking, trust, securities, retirement and wealth management sectors of the financial services industry. Bluff Point's team collectively has decades of experience in recognizing a company's growth potential and working with its management to reach that potential. For more information regarding Bluff Point, visit www.bluffpt.com.

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