Microsoft (News - Alert) Dynamics 365 Business Central has been growing exponentially over the last few years as a cloud-based ERP solution for Small and Medium Businesses (SMBs).
Microsoft earnings revealed that Dynamics products and cloud services revenue increased 13% (up 20% in constant currency) driven by Dynamics 365 revenue growth of 21% (up 29% in constant currency), after growing by approximately 1,000 new customers per month, making the cloud ERP solution arguably the fastest-growing in the industry.
SMBs trust Dynamics 365 Business Central SaaS (News - Alert) to organize and automate small day-to-day operational decisions and bring insight to important strategic decisions. Many of them also use the solution as the backbone of their digital transformation processes.
One of the most prominent and award-winning providers of Business Central, Bam Boom Cloud, has been acquired by Pax8, a rapidly growing B2B cloud marketplace and service platform that simplifies the way organizations buy, sell, and manage cloud solutions.
According to Pax8, this acquisition creates a new market opportunity for managed service providers (MSPs) to easily add new lines of business service offerings leveraging Bam Boom’s Microsoft Dynamics expertise.
“Business process automation is on the rise, and the Bam Boom acquisition will enable us to create new simple go-to-market strategies and services for partners to build on their Microsoft Dynamics technology offerings,” said John Street, Chief Executive Officer at Pax8. “Together, our people, cloud marketplace, programs, services, and resources will enable MSPs to capitalize on the market opportunities with Business Applications solutions and add new revenue streams to their organizations.”
Bam Boom has more than 135 employees across the United States, United Kingdom, Germany, India, and Canada, with expansive knowledge and expertise in cloud solutions. Bam Boom offers affordable, fixed monthly pricing and fixed-scope technology solutions designed for small and medium-sized businesses (SMBs). The company is the Global 2022 Microsoft Partner of the Year, Dynamics 365 Business Central.
“We are excited for Bam Boom to join Pax8 to scale our technology solutions to the channel ecosystem,” said Vicky Critchley, CEO at Bam Boom. “Bam Boom is passionate about helping businesses be as sustainable as possible and build a strong foundation with reliable, cloud-based accounting solutions with Microsoft Dynamics 365 Business Central. Pax8 will enable us to expand our reach and help more businesses grow with Microsoft business solutions.”
Critchley will join an impressive and growing leadership team at Pax8; in the last few weeks alone, Pax8 announced the promotion of Caroline Goles as Chief Marketing Officer and shortly thereafter announced that company co-founder and tech industry veteran Klaus Dimmler was named to the new position of Chief Science Officer. This week, Rob Rae was appointed as Corporate Vice President of Community and Ecosystems as the company continues to invest in bringing top industry talent to support dramatic growth, even in the midst of an economic downturn.
In 2022, Pax8 made a number of acquisitions after attracting $185 million in new equity capital from new investor SoftBank Vision Fund 2 last April, increasing the company’s valuation to $1.7 billion at the time. SoftBank Vision Fund 2 led the funding series with additional contributions from existing investors Catalyst Investors, Sageview Capital, Blue Cloud Ventures, and Liberty Global Ventures.
Edited by Erik Linask