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IRIS acquires Cascade to provide a broader range of HR & Payroll solutions to UK Businesses

(Datchet, Berkshire, 24 April 2014): IRIS Software Group, the UK market leader in accountancy and payroll software, is today announcing that it has agreed to acquire Cascade, the leading provider of HR and Payroll solutions.

With a joint customer base of over 60,000 UK businesses this acquisition reinforces IRIS’s position as a leading player in the provision of business critical software solutions. In particular the combined business now has a broader product set to include HR solutions alongside IRIS’s Payroll & Book Keeping applications, that will appeal to many UK organisations.

Founded in 1992 by Alan Jones and his fellow directors, Cascade has carefully evolved a market leading HR suite based on robust technology, excellent client services and support. The business has grown rapidly since 2005 supporting many of the UK’s leading companies with their HR and Payroll needs. The terms of the transaction were not disclosed.

The combination of IRIS and Cascade is compelling, extending the IRIS product set into an important, adjacent market and adding a business with a strong history of growth, an experienced management team and excellent customer base. In turn, IRIS provides an opportunity to underpin the success of Cascade by providing access to over 60,000 customers, many of whom will appreciate Cascade’s professional HR solutions.

Alan Jones will remain as Managing Director of the Cascade Division of IRIS, alongside his fellow directors, with the mission of continuing to grow the business in line with recent performance, whilst taking advantage of the combined resources of the larger group.

Phill Robinson, Chief Executive Officer of IRIS Software Group, said:

“Cascade’s superb HR Suite is an excellent fit with our Payroll solutions and I am confident that it will strengthen IRIS’s position in providing business critical solutions to UK SMEs. I am delighted that the Cascade team will become part of the wider IRIS Software Group, HR is a clear adjacency for our market and an area that has become increasingly complex for businesses in the past decade. Our joint goal is to make it easier for our customers.”

Alan Jones, Founder and Managing Director of Cascade said:

“We are very excited to join forces with IRIS which we have known and respected for many years. It’s the natural next step in Cascade’s evolution, allowing us access to a whole range of resources, skills and ideas as well as the extensive IRIS client base. We have a brilliant team at Cascade and they will be a huge asset to IRIS as we now move forward together.”

Enquiries

IRIS 01753 212471

Phill Robinson

Cascade 0113 2554115

Alan Jones

IRIS PR 01454 629741

Sara Lewis, Lindsay Hoggard

Cascade PR 0113 2554115

Andy Court

Notes to Editors:

About IRIS Software Group

With 30 years’ experience, the IRIS Software Group provides business critical software and services to the UK accountancy and SME sectors. More than 15,000 UK accountants and 45,000 small and medium sized companies rely on IRIS every day to run their business.

IRIS offers customers the greatest choice of specialist accountancy software and services managed under three leading brands – IRIS, PTP and Drummohr. With over 98% customer retention for its core products, 2.8 million tax returns successfully filed with HMRC and 60% of the top 50 practices as customers, IRIS is the most trusted accountancy software provider in the UK today. Follow us on Twitter @irisaccountants.

Through its SME division, IRIS also provides payroll technology to SMEs and payroll bureaus. As a leading provider of payroll software, IRIS serves a number of sectors, including 50% of UK GP practices and a growing number of UK retailers. 15% of UK businesses pay their employees via IRIS payroll solutions. Follow us on Twitter @irispayroll.

For further information visit, www.iris.co.uk

About Cascade HR Ltd

Cascade is an award winning provider of fully integrated HR software and HMRC recognised payroll software. With proactive modules including core HR, Payroll, Training, Recruitment, Online Recruitment, Self Service, Workflow, Auto Enrolment, Timesheets and Expenses, Cascade has over 530 clients in a variety of sectors.

Cascade HR can suit any size organisation and has the capability to adapt as your Human Resources and Payroll requirements change. We will work with you, listening to your needs, wants, issues and challenges and fit Cascade to suit you. So if you want to start out with the core HR module and add on modules over time you can, Cascade can grow and adapt with you. Follow Cascade on Twitter @cascadehrms.

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