TechnologyOne has continued its acquisition growth path, entering into an agreement to buy asset management consulting and software firm Jeff Roorda and Associates.
The $10 million deal will give TechnologyOne a footprint in North America, where Jeff Roorda and Associates (JRA) has an established customer base.
TechnologyOne will integrate JRA's asset management offering and integrate it into its own software platform and deliver it as a software-as-a-service offering, but says it remains committed to supporting JRA's existing software.
Adrian Di Marco, TechnologyOne executive chairman, says the acquisition of JRA aligns with the company's strategy to continuously deepen and broaden its enterprise solutions in the industries TechnologyOne operates in.
“JRA's deep functional and industry knowledge will expand our leading enterprise solution for asset-intensive organisation, delivering specialist expertise and capability to our customers,” Di Marco says.
“The unique IP and market-leading functionality we are acquiring with JRA supports our vision of delivering enterprise software that is incredibly easy to use and that meets the needs of customers in our target markets.
Di Marco says the acquisition enables TechnologyOne to improve its existing offering, particularly for customers who have invested in the company's asset management software.
“We are now positioned well to deliver on our power of one promise and take complete accountability for our customers' long term success.
JRA provides asset management practice, training and implementation programmes for engineers, accountants and senior management in Australasia and North America, with key customers including San Francisco's Bay Area Rapid Transit (BART).
The North America aspect is of particular interest to TechnologyOne, with Di Marco noting TechnologyOne has plans for further geographic expansion.
“Developed in Australia, we have built a global platform that has succeeded in our existing regions and positions us well for future growth,” he says.
“JRA's solution provides long-term planning, risk management and performance optimisation strategies for organisations that manage public infrastructure worth billions of dollars. With proven degradation models based on years of data, it calculates remaining life and optimum lifecycle cost of assets,” Di Marco adds.
The deal is the third acquisition for TechnologyOne this year, with the company snapping up Digital Mapping Solutions early this year, followed by ICON Strategic Solutions, for $12 million and $10 million, respectively.