After listing on the Australian and New Zealand stock exchanges in September last year, CommSoft has announced the first scalp in its aggressive acquisition growth strategy.
CommSoft is expected to settle on Friday the purchase of New Zealand-based CRM developer Marketing Technologies for $2.4 million in cash and the issuing of up to $2.2 million worth of stock over the next three years.
Marketing Technologies' core product is its Brains CRM and call centre software. Rodney Martin, chief operating officer of CommSoft, claims the acquisition marries CommSoft's legacy in telephony integration with Marketing Technologies' strength in CRM database applications.
"We're looking for a number of acquisitions which are technology rich, like Marketing Technologies, but are sales or marketing poor, which we feel compliments ourselves," says Martin.
CommSoft is already working on releasing a shrink-wrapped product that combines Marketing Technologies' SME solution, Brains Express, with CommSoft's existing software within "a month or so", claims Martin.
All of Marketing Technologies' staff, around 14, will be offered positions at CommSoft, claims Martin, with several of its senior management staff given share options as part of the deal.
The acquired company has already managed to secure a number of high-profile customers including Fosters Brewing Group, Toyota, and call centre provider Connect Interactive Business Systems which was responsible for powering the Sydney Olympic call centre last year.
Photograph: CommSoft COO Rodney Martin.