ASX-listed services provider, UXC, has acquired Sydney-based business intelligence outfit, Agave, for an undisclosed sum.
Agave will merge with e.bi; a division of UXC's Performance Management business established in January. The deal will be payable in a mixture of cash and shares.
UXC Performance Management CEO, Stephen Mackley, said the acquisition was part of its strategy to become the leading independent services company in the performance management space.
"I've been on the lookout for businesses in that area for some time and in the last three months we have been negotiating with Agave to join our business," he said. "Agave has had great success in a short period of time and is complementary to the business that we have with e.bi, which mainly focuses on planning, budgeting and forecasting tools.
"One of our goals was to look for a company that can grow with us and share our vision."
Agave has been operating in Australia for the past two-and-a-half years. Mackley said a key attraction was its client base. The company has about 15 clients, including Fleet Australia and IBM. The addition brings e.bi's customer count to about 40.
Its sound skills in data warehousing business intelligence space were another drawcard.
"We really needed to build our performance management business to reflect the size of where UXC is going at the moment and what we are going to do," Mackley said.
All eight staff will be retained, with Agave CEO and co-founder, John Dickson, becoming e.bi's CEO.
Mackley said he would like to grow total staff numbers to about 30 by the end of June by recruiting individuals with backgrounds in business intelligence and accounting.