On June 27, Great Plains Software, Inc., a leading mid-market provider of back-office and e-business solutions, announced financial results for the fiscal quarter and fiscal year ended May 31, 2000. Despite continued growth and profitability, the market reacted to the company’s results that were below analysts’ expectations by almost halving its market capitalization in a day!
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2000, Great Plains acquired Solomon Software, its long time direct competitor. With the acquisition finalized, Great Plains now has more than 130,000 customers, 2,000 team members and a worldwide network of 2,000 channel partners. Great Plains acquired FRx Software Corporation, possibly the standard for mid-market financial reporting. As a result of the merger, Great Plains and FRx plan to expand their Web-centric analytic applications to include additional e-reporting and business intelligence