Exact is a Dutch software company that offers accounting, ERP, and other software for small and medium enterprises. Exact develops cloud-based and on-premises software for industries such as accountancy, wholesale distribution, professional services and manufacturing, serving more than 100,000 companies. Exact, founded in 1984, has its headquarters in Delft. It has subsidiaries and offices in Europe, North America and Asia. The company was listed on Euronext until March 2015, when it was bought up by a group of investors led by Apax. Exact was founded in 1984 by Eduard Hagens, Rinus Dekker, Arco van Nieuwland, Paul van Keep, Paul Fijling and Leo Schonk. The six had worked as freelancers for Grote Beer ("Ursa Major"), one of the first Dutch companies to produce standardized accounting software. When Grote Beer fired all of its freelancers, Hagens et al. started their own business. Their Exact Software would later, in 1994, acquire Grote Beer, which at that time had an annual revenue of ƒ100 million, expanding Exacts customer portfolio to some 60,000 companies. The former companys name was used as a trade mark until 2000.