Go Daddy buys cloud-based accounting software firm Outright.com

Go Daddy, the world's largest web hosting provider, today said that it has acquired Outright.com, a cloud-based financial management application company, in order to expand its range of products and services for small businesses.

Financial terms of the deal were not disclosed.

Founded by entrepreneur Ben Curren in 2006, Outright provides an alternative for hard-to-maintain spreadsheets currently used by most small businesses by giving them simple, data-driven and community-enabled business management applications.

Outright provides a finance application that automates small-business accounting tasks by organising them effectively and efficiently. It's web and mobile application imports data from online websites such as PayPal, eBay, Amazon and Etsy, as well as bank accounts and credit cards.

The Mountain View, California-based company has more than 200,000 customers, mostly small businesses and entrepreneurs.

"This is a great fit for our customer base," said Go Daddy CEO Warren Adelman. "Outright.com has built easy-to-use software that streamlines the work involved with running a start-up or small business, the taxes, income, profits, expenses and other financial data that can be an administrative distraction for business owners.''