Under the deal, Full Circle is to be fully integrated into JCurve’s business operations by the beginning of July.
JCurve (ASX:JCS) was established in 2013, following the acquisition of the company by Stratatel Limited (ASX: STE).
The acquisition of Full Circle by JCurve sees the combining of the capabilities of two previously competing Australian telecom expense management (TEM) providers into what JCS says will be a “dominant and competitive service offering.”
The acquisition coincides with plans to grow sales of JCurve’s small business cloud accounting and ERP software. “JCurve is well placed to be the leading cloud accounting and ERP software for small business,” Baillie said.
“Giving customers a 360 degree view of their business is helping revolutionise how small businesses operate. JCurve is not a comparable solution to Xero or MYOB. It is a complete business transformation tool for growing small businesses looking to outperform their competitors. Built on the global leader in Cloud ERP, NetSuite, our customers can be assured of access to world class technology.”
Of further plans to grow JCS’ business, Baillie said: “We are taking on new channel partners to build scale quickly. The increasing interest in the JCurve product has been exceptional and with the appointment of a highly experienced manager, Lukas Taylor, to grow our channel business we are confident in achieving impressive growth numbers.”
“Lukas’ previous experience as a senior level relationship and partner manager with proven success in building sales channels from the ground up (most recently with Macquarie Telecom will be a great asset to the company.
“JCurve has experienced proven success in wholesale distribution, retail and franchising verticals and will focus efforts to leverage this past success.”
According to Baillie, the acquisition will deliver JCS scale and growth opportunities in the telecommunications and data management cloud software market, enhances the capability to protect existing recurrent revenue streams, and eliminates the need for a substantial investment of over $800k being considered by JCS into its existing TEM’s product, JTel.
The merger of the two companies also delivers JCS a cloud software platform built on the technology platform, Ruby on Rails.
Tony Simmons, Managing Director, Full Circle said of the acquisition “The Full Circle Group has been rewarded for its independent approach to client cost reduction by securing major contracts with two large Australian enterprises.
“Once again, this current financial year will see Full Circle revenue growth of 30%+. Continuous year on year revenue growth of 30% has Full Circle recognised as the leading supplier in the Australian TEM market.”