Establishing our new headquarters in the Portland area allows us to tap into the deep talent pool in the region and take advantage of lower office space cost
Portland, OR (PRWEB) January 23, 2009
Accero Software (formerly Cyborg Software), with over 30 years of industry success providing Human Resources and Payroll management solutions to SMBs and large enterprises in the United States, Canada and the United Kingdom, has moved its headquarters from Chicago, Illinois to Lake Oswego, Oregon, bringing with it an influx of investment money and employment opportunities for the Portland area. The move is part of an overall strategic plan to tap into local talent, as well as to rebrand and help prepare the company for anticipated growth.
In February of 2008, Vista Equity Partners, a San Francisco-based private equity firm with over $2 billion in committed capital, acquired the Cyborg Software assets from Hewitt Associates and changed the company name to Accero Software. Among its many company holdings, Vista Equity once owned SRC Software, a planning, budgeting and reporting software solutions provider that rose to prominence after it was acquired by Vista Equity. Hoping to repeat this formula for success, Vista Equity brought on board many of the same SRC Software executives to grow Accero. This experienced management team is led by CEO Tom Malone, a seasoned software industry executive who has spent the last 12 years of his career holding "C" level positions."
"Establishing our new headquarters in the Portland area allows us to tap into the deep talent pool in the region and take advantage of lower office space cost," said Malone. "We've already filled many key positions with local talent and look forward to adding more. We're enormously pleased to be one of the few companies expanding rather than reducing its workforce during the current recession."
Accero employees were not asked to relocate from Chicago. Instead, Accero has been staffing up its new headquarters, filling needed roles by hiring locally. The company currently has approximately 20 employees at its Lake Oswego site, with expectations of adding at least ten more employees in 2009. Additional growth beyond 2009 is expected, with the new 10,000 square foot headquarters at 17040 Pilkington Road, Suite 300, built-out to house 45 employees. The Lake Oswego facility also includes a server room that runs the company's IT operations for all locations.
In addition to the Lake Oswego headquarters, Accero maintains sites, called Centers of Excellence, in Chicago, Canada and the United Kingdom. An Accero Center of Excellence is staffed by skilled personnel from various disciplines, ensuring that clients can get the services, support and training they need at a regional site geographically convenient to their own location.
As part of this strategic rebranding effort, Accero recently moved its Chicago work force into new office space on the 36th floor of the 110-floor Sears Tower, the tallest building in North America. The new space will easily accommodate existing Chicago-based staff with substantial room to accommodate additional staff and IT infrastructure in the future.
Accero is a leading provider of flexible, cost-effective Human Resources and Payroll software solutions that streamline and improve internal processes, human capital management and reporting, resulting in a rapid ROI for enterprises with more than 2500 employees. The company's clients include Fortune 500 companies, local governments, healthcare, retail, manufacturing and service providers with complex financial and personnel needs, such as compliance with local and federal regulations and tax laws.
"Setting up our headquarters in the Portland-area will make it easier for us to attract the necessary talent we need to grow our company," said Ted Allen, Vice President Administration & Finance, CFO. "We're making huge investments in infrastructure as well as in R&D that will enable us to innovate and to expand our suite of products and services in 2009 and beyond. It was critical to have a home base that could support our aggressive goals."
About Accero Software
Accero is a trusted Human Resources Management and Payroll Service vendor with over 30 years of success in the industry. The company provides solutions that seamlessly integrate and streamline human resources and payroll processes with a customizable suite of products designed to empower users to efficiently and securely manage mission-critical HR and payroll functions. With operations in the United States, Canada and the United Kingdom, Accero serves over 200 customers across multiple verticals. For more information about the company and its products, please visit http://www.accero.com.
About Vista Equity Partners
Vista Equity Partners currently invests over $2 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support toward companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing.
For more information, visit http://www.vistaequitypartners.com.
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