NetSuite Recruits European Solution Providers, Reports 31 Percent Q4 Growth

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The new U.K. partner, Manchester-based M-hance Ltd., is currently a Microsoft Gold partner that works with that vendor's Dynamics GP and Dynamics CRM applications. By joining the NetSuite Solution Provider Partner Program, the company aims to gain an immediate presence in the cloud enterprise ERP market.

M-hance is creating a new division called HighCloud Solutions specifically for its cloud ERP practice. The company will provide implementation, support, customization, integration and training services around NetSuite's applications for midmarket customers in wholesale distribution, manufacturing, professional services, retail, financial services, media and publishing, and nonprofit vertical industries, according to NetSuite.

"It is imperative that we offer our customers and our prospects a 'true cloud' solution," said M-hance CEO Stephen Driscoll in a statement. "The creation of HighCloud Solutions will allow us to meet that objective."

NetSuite's new European partners, meanwhile, include Audaxis in Belgium, Balkan Services in Bulgaria, Extra SRL in Italy, Mepco in Finland and Solmate in the Netherlands. NetSuite said they all will be broadening their product portfolios beyond the on-premise ERP applications they currently work with from SAP, Microsoft and Sage.

For all of 2015 NetSuite reported revenue of $741.1 million, up 33 percent from $556.3 million in 2014. The vendor reported a loss of $124.7 million for 2015, up 25 percent from the $100 million loss reported in 2014.

CFO Ron Gill, on the earnings call, said NetSuite expects to generate revenue of between $212 million and $214 million in the current first quarter of fiscal 2016 and revenue between $950 million and $970 million – representing growth of 28 percent to 31 percent – for the entire year.


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