Sydney-based JCurve Solutions has acquired booking, dispatch and payment (BDP) software company Riyo to complement its existing enterprise resource planning (ERP) business.
JCurve will pay $600,000 in cash for Riyo, with the deal expected to be finalised on 31 May.
“The acquisition of the Riyo software platform adds to our growing suite of solutions. We are purchasing a robust, scalable, industry standard technical architecture which has been successfully tested through product trials,” JCurve chief executive Stephen Canning said.
“The software platform could be rolled out in its current state or may be developed into other verticals and integrated into our ERP offerings.”
Riyo’s software platform caters to the service industry with its booking, dispatch and payment functionality.. The system is used by businesses that handle on-demand or scheduled installations, services or repairs of equipment across several industries.
JCurve said that the Riyo platform has been successfully piloted with two enterprise customers in Australia.
“The Riyo software platform is a disruptive technology which has multiple potential commercial applications. Customers demand convenience, transparency and engagement in a single, mobile experience,” Riyo chief executive Adam Kundrat said.
“The Riyo software platform leverages advanced technology to deliver this experience. I am excited to see the progress JCurve Solutions makes in commercialising the Riyo software.”
Canning added that he expects the acquisition will be earnings-per-share accretive in the short term to deliver long-term shareholder value, and is in line with JCurve’s diversification strategy.