Ezidebit buys StorMan in multi-million deal
- 05 August, 2014 08:48
Cloud payments software firm Ezidebit has acquired StorMan Software in a multi-million dollar deal.
The deal will see it integrate with Ezidebit’s market-leading payment services software to help self-storage operators better manage their cashflow.
The exact details of the deal were not disclosed.
The acquisition will see StorMan Software become part of Ezidebit, one of Australia’s largest payment providers.
The company will use the capital injection and increased capacity to improve its products and services offering, according to a company statement.
StorMan Software’s newly appointed chief executive, Matt McGown, said the acquisition would allow self-storage operators to improve their cashflow through a simple, single application.
“The cash injection will also give us access to increased technical, marketing and sales resources to deliver a flawless customer experience,” he said.
“It will also help move our systems to the Cloud, allowing users to manage their business from any device, in any location, simply from their browser.”
Ezidebit chief executive, Charlie Holland, said it was the company’s first foray into the self-storage industry.
“We’re very excited to be able to support StorMan Software’s business growth and help the company’s clients focus on growing their businesses while we focus on simplifying the collection of rental income.”
Ezidebit is the largest non-bank payment supplier in Australia, with more than 120 employees and offices in Brisbane, Sydney, Melbourne and Wellington, according to a company statement.
Around 20,000 customers use the company's automated Cloud-based payment platform to setup, collect and manage one-off joining fees, recurring fees, invoice payments from a set or a variable amount, payment plans and debt collection.