Ellerra Announces Strategic Acquisition of Morello Accounting Group

Ellerra Positioned for Growth with Acquisition of Morello Accounting Group, Inc.

Pala Alto, CA - November 4, 2024

Ellerra, a leading accounting and professional services firm based in Palo Alto, CA, is pleased to announce the strategic acquisition of Morello Accounting Group, Inc. (MAGI), a leading bookkeeping and consulting practice located in Walnut Creek, CA. This acquisition, effective November 1, 2024, marks a significant milestone in Ellerra's mission to expand its presence in the Bay Area and enhance its service offerings.

About Ellerra

Founded by former Deloitte CPA, Stephen Vincent Grassi (SVG), and serial entrepreneur and educator, Stephen Torres, Ellerra has built a reputation for supporting startups and entrepreneurs with a comprehensive range of services, including accounting and finance service, strategy consulting, and venture capital investments. The acquisition of MAGI, founded by Diana Morello in 2008, aligns with Ellerra's vision of providing exceptional client service and fostering strong client relationships. 

"We are tremendously grateful for the trust that Diana and MAGI have placed in Ellerra to steward their business and their clients," said SVG. "We are looking forward to continuing and expanding upon the legacy of strong client relationships and excellent client service that has been the hallmark of MAGI for many years. And we are excited by the future of Ellerra as we continue to grow our firm to provide for the growing needs of our clients." 

The acquisition brings several key benefits, including expanded service capabilities for MAGI's clients and additional resources to support Ellerra's existing client base. Ellerra's expertise in accounting, business, and client service, combined with MAGI's strong reputation and seasoned team members, will create a powerful synergy that enhances the overall client experience. 

About Morello Accounting Group

Diana Morello, a 5-star QuickBooks ProAdvisor, expressed her confidence in Ellerra's ability to continue the high standards of service that MAGI's clients have come to expect. "While considering my future retirement, it was important that my successors would be as good as or better than me. And that’s exactly what I’ve found in Ellerra. They are next level, and that is precisely what I wanted for my clients," said Morello. 

Ellerra's acquisition of MAGI underscores its commitment to growth and excellence in client service. The firm is excited to welcome MAGI's clients and team members into the Ellerra family and looks forward to a bright future together. 

For more information, please contact:

Stephen Vincent Grassi at info@ellerra.com or at 650-622-5105.