26 JUN 2024 / M&A UPDATES

Rightworks Expands Leadership in Cloud and Security Solutions with Acquisition of Practice Protect

- MYCPE ONE Insights Team

Summary

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Nashua-based intelligent cloud service provider, Rightworks, has acquired Australian cybersecurity provider, Practice Protect. The acquisition aims to enhance Rightworks' cloud platform capabilities for accounting professionals by integrating cybersecurity methods to manage risk, secure client data, and ensure regulatory compliance.

Rightworks, a Nashua, N.H.-based intelligent cloud service provider specializing in solutions for accounting firms and professionals, has announced its acquisition of Australia-based Practice Protect, a leading cybersecurity provider for the accounting profession.

This strategic acquisition aims to enhance Rightworks' OneSpace intelligent cloud platform by integrating Practice Protect's cybersecurity capabilities. The integration is expected to enable accounting professionals to manage risk more effectively, secure client data, and achieve regulatory compliance while utilizing both cloud and desktop applications within a unified, secure environment.

James Buss, founder of Buss CPA, expressed enthusiasm about the acquisition, stating that the integration of Practice Protect into Rightworks' portfolio would significantly benefit his firm by enhancing security and accessibility.

Joel Hughes, CEO of Rightworks, emphasized that the addition of Practice Protect aligns with the company's mission to provide a secure, purpose-built cloud environment that offers accounting professionals seamless access to necessary applications, thereby fostering the growth of profitable and modern businesses.

For clients outside the United States, including those in Australia and New Zealand, Rightworks plans to continue offering Practice Protect as a standalone solution, supported by the existing global teams.

Jamie Beresford, CEO and co-founder of Practice Protect, noted that the partnership with Rightworks would strengthen efforts to protect the accounting profession from increasing cyber threats targeting both firms and their clients.

This acquisition underscores Rightworks' commitment to advancing its cloud and security solutions, providing accounting professionals with the tools necessary to navigate the evolving digital landscape securely and efficiently.

Until next time…

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Rightworks Expands Leadership in Cloud and Security Solutions with Acquisition of Practice Protect

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