Cooper Sydney the business technology specialists in finance today announced an investment in the new software-as-a-service segment replacing old style accounting software.
The transaction is the culmination of a relationship started in late 2006.
Saasu is leading the transition from on-premise accounting software to software-as-aservice for financial management in small and medium sized businesses in Australia and is now growing rapidly offshore.
Saasu is the original and leading online accounting service based in Sydney Australia with thousands of users in dozens of countries.
This investment in Saasu Pty Ltd makes Cooper Sydney related parties the second largest shareholders in Saasu after the founder and his family. Terms of the investment were agreed in 2007 and are not disclosed.
Peter J Cooper, founder of Cooper Sydney said 'We congratulate Marc Lehmann and the team at Saasu for their vision and excellence in execution that will transform the way millions of Australian small businesses and potentially hundreds of millions of small and medium businesses globally mind their businesses online.
"Lean, growing businesses, especially mobile ones need the information advantages Saasu brings in online payroll, online invoicing, online inventory, lite CRM and activity
management all in one simple to use website accessible anywhere anytime.
"We are delighted to be part of this success that we believe is better value and leads our competitors such as MYOB, Quicken and Xero because Saasu offers all the features most businesses need entirely online with no software hassles." said Mr Cooper.
Marc Lehmann, founder of Saasu said "We are pleased to be able to demonstrate continuing momentum in our product, client base and investors". Cooper Sydney have helped with growth capital and resources.