Recently-listed developer CommSoft has agreed to buy Kiwi company Marketing Technologies, which has developed the Brains customer relationship management application. The $A4.6 million transaction will be financed by an exchange of cash and shares.
Greg Gardiner, chairman of CommSoft, said Brains complements the company's CRM offerings and will be integrated into CommSoft's telecommunications software products. It is expected that all staff of Marketing Technologies will be employed by CommSoft.
Rodney Martin, CommSoft's COO, added that the takeover is part of CommSoft's intention to grow by acquisition. "This is the first of a number of acquisitions that we plan to make over time," he explained. "It will enable us to grow revenues and earnings by selling new product through our existing sales force staff via our existing channels to our existing customers".