TechOne reveals another $10 million buyout

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TechOne reveals another $10 million buyout

Queensland software provider Technology One will spend up to $10 million making its third acquisition in the last nine months.

It will purchase asset management firm Jeff Roorda and Associates (JRA), with a "significant proportion" of the purchase price payable on the achievement of an earn-out.

Technology One will integrate JRA’s flagship asset management solution into its own platform in the next 12 months. It will also take on approximately 70 JRA customers, including the Bay Area Rapid Transit in California.

Founded in 1993, JRA provides long-term planning, risk management and performance optimisation strategies to government organisations in Australia, USA, Canada and Asia. The company also provides asset management reviews and online service delivery for critical public infrastructure.

Chief executive Adrian Di Marco said there would be no redundancies, with the entire JRA team of around 12 employees being folded into Technology One.

He said the company wasn't acquisition driven, despite purchasing three companies in the past nine months. Technology One acquired Gold Coast-based Icon Software for $10 million in January, and Digital Mapping Solutions for up to $12 million in May.

Both acquisitions saw the respective companies’ solutions integrated into Technology One's platform.

“We find that our footprint has become so large that customers are asking why we can’t do a bit extra,” said Di Marco.

“By picking up some wonderful IP and expertise, we can rebuild that onto our own platform. If we tried to build something like this ourselves, it’d probably take us five to six years to build ourselves. We can instead rebuild JRA’s IP into our own in 12 months.”

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