New Zealand-listed accounting software vendor, Xero, has raised a further $15.5 million from existing strategic investors in the company to support its future growth in Australia and globally, at the same time as it announced the acquisition of practice management company, Max Solutions, the developer of job, time and invoice management solution WorkflowMax.

Specialist financial IT firm, Dedication Group, has been chosen by RCG Corporation to manage the IT integration of its global, franchised sports shoe retailer, The Athlete's Foot, for the launch of its e-commerce store.

Australian-listed global financial services industry technology provider, GBST, has appointed the president of Boeing Australia and South Pacific and the current president of the American Chamber of Commerce in Australia, Dr Ian Thomas, to its board of directors.

Business finance solutions provider, Finlease, has launched a tailored finance solution that it says provides simple, competitive financing packages specifically for the IT sector, covering hardware, software and services.

Corporate payments and PCI compliance vendor, IP Payments, has appointed a financial services veteran as its new chairman.

The IQ Business Group (IQBG) IT consultancy is claiming another industry first for its solutions designed to improve the governance of superannuation trustee boards, with Local Government Super the first client to implement IQBG’s trustee office solution, iqBoard, from its recently launched onshore cloud computing environment, iqCloud.

TechnologyOne (ASX: TNE), in partnership with Police and Nurses Credit Society, has announced the launch of industry-first software for the financial services market.

Global transfer agency and wealth management software vendor, Bravura Solutions, has appointed Daryl Wright as its product marketing manager, global wealth management for Australia.

The Australian market for unified communications is predicted to soar to revenues of $1 billion over the next six years as government incentives for video deployments and pent up demand in the wake of the 2009 economic slowdown fuel renewed strong growth.

Online accounting system vendor, Xero is to acquire Australian payroll company, Paycycle, for A$1.5 million in a deal comprising half a million dollars in cash and $1 million in Xero shares.