Wave Accounting today announced it has acquired online stock research application Vuru.co, as part of its growth and development strategy. Wave is a provider of integrated online applications for small business owners globally.
The Vuru acquisition will allow Wave to add investment tools to their mix of personal and business finance tracking features they already offer. Vuru offers free online financial analysis tools and report generation to help self-directed investors.
"We see a great fit between Wave and Vuru," said James Lochrie, CPO and co-founder of Wave. "Both applications take rich data streams and help customers know more about their finances, and we're confident that we'll be able to leverage significant synergies by bringing the technologies together."
As part of the acquisition, Vuru co-founders Yoseph West and Cameron Howieson will join Wave in Toronto, but the two companies will continue to operate independently. West and Howieson will continue to head Vuru’s daily operations, while overseeing new Wave products.
"We're very excited to become part of the Wave family," said West. "Leaning on the expertise Wave has developed in the cloud app and financial space, Vuru will immediately catapult to another level. And together our applications and technologies will give our customers some incredibly powerful financial tools. "
"We've been advising Yoseph and Cameron for the better part of a year, and have been very impressed with their abilities to take complex financial data and make it elegantly simple and meaningful for the non-technical customer," said Lochrie. "They're definitely a great fit with our team, and we look forward to their contributions to our business."