Arthur Fernandez, founder and director of Spectrum Partner Group, has commenced his role as general manager of Asian operations, weeks after the specialist business was acquired.
As revealed by Channel Asia, the Oracle and NetSuite partner was acquired by Australian-based JCurve Solutions in early December, in a geographically motivated transaction.
With the deal closed, Fernandez is now tasked with integrating the Spectrum business into JCurve Solutions' existing operations, while further expanding across the Asian market.
“We see significant short-term opportunities across the South East Asian market for our solutions,” said Stephen Canning, CEO of JCurve Solutions. “The acquisition of Spectrum immediately boosts our revenue and profitability as well as increasing our customer numbers.”
As reported by Channel Asia, the acquisition positions the combined entity as the only NetSuite 5-Star Partner based in Singapore, according to Canning.
“Most importantly it will act as a launch pad for the further expansion of our business operations within Asia as well as building on JCurve Solutions’ position as NetSuite’s largest solution partner globally by customer count,” he added.
Furthermore, the acquisition is expected to increase customer count, revenue and profitability for the Australian-listed solutions provider, with plans in place for further organic and inorganic growth.
A purchase price of S$300,000 cash was paid for the acquisition of Spectrum’s business assets which include the organisation’s customer and business contracts, in addition to the company’s ‘goodwill’.
In addition, a further uncapped deferred earn-out cash payment is to be determined by the level of revenue derived by Spectrum against nominated targets in the period post completion to 31 March 2019 and is payable by way of cash in August 2019.
If current forecasts are achieved the deferred cash payment will be S$300,000.