ViryaNet buys e-Wise for $2m to establish Australian office

Stan Beer
Thursday, 02 June 2005 09:59

IT Industry - Development

US-based mobile workforce solutions provider ViryaNet,has established a subsidiary in Australia, ViryaNet Pty Ltd (ViryaNet Australia), with the acquisition of mobile software provider e-Wise Solutions, based in Melbourne.

The e-Wise acquisition comes on the heels of an announcement in May of ViryaNet's first Australian customer, Integral Energy.

e-Wise Solutions develops and implements front-office automation solutions for mobile and desktop platforms, and has a customer roster that includes a number of large organisations in the utility, government, and oil & gas services market segments, across Australia, New Zealand, and the Asia Pacific region. A sampling of customers includes City West Water, City of Melbourne, Barwon Water, Yarra Valley Water, Brisbane Water and others. e-Wise became a value added reseller of ViryaNet products in October 2004.

Through ViryaNet Australia, NASDAQ listed ViryaNet will acquire all of the assets of e-Wise, including intellectual property rights, for US$0.7 million payable in shares plus a further US$0.7 million, payable in 2006 based on the achievement of performance objectives in the 2005 financial year.

ViryaNet Australia is expected to retain e-Wise's current executive team and employees, offerings, and offices in Australia. The acquisition is expected to close during June of 2005, subject to certain closing conditions.

'Australia is a vibrant marketplace, one we believe is well suited for ViryaNet's products and services. ViryaNet Australia will give us an operating unit for serving the Australia, New Zealand, and the Asia/Pacific markets. The acquisition of e-Wise is another step forward in attaining our goal of developing local presence in each of our targeted geographies,' said Paul V. Brooks, president and CEO, ViryaNet. 'The e-Wise team has demonstrated success with solid products and top-quality professional services, resulting in a robust installed base of satisfied customers. We welcome the e-Wise staff, partners, and customers, and look forward to expanding the ViryaNet presence in this part of the world.'

Brooks said that ViryaNet's mobile workforce management product, including an advanced scheduling optimisation algorithm, complements the case-management capabilities of e-Wise's flagship product, FOCUS, which together would create a compelling mobility solution for a wide range of markets.

e-Wise CEO and founder, Mark Hosking, described the merging of the companies as a win-win for both. Hosking said, 'It will extend the capabilities of the e-Wise team and the reach of ViryaNet Australia into new markets.' Upon closing of the acquisition, Hosking will be named general manager of ViryaNet Australia.