New Zealand mobile sales software company Opmetrix has been acquired for an undisclosed sum by Commerce Vision, an Australian ecommerce firm.
The purchase is backed by Potentia Capital, a tech-focused private equity firm which says it is poised to make further moves into the NZ software market.
Opmetrix is a customer relationship management platform used by sales teams in the field to share up to date retail sales data. It was founded in 1997 by Oliver Huggins and has more than 2,000 customers, with offices in Christchurch and Sydney.
Potentia managing director and Commerce Vision chairman Tim Reed said the deal was Potentia’s “first major investment into a New Zealand business”.
“We have been very impressed with the Opmetrix business and team, and hope to be able to make many more investments in New Zealand in the years to come,” he said.
Potentia was founded in 2014 and labels itself “Australia and New Zealand’s only dedicated technology growth capital and private equity fund”.
It recently acquired a minority stake in Australian tender management platform EstimateOne from its A$450 Potentia Fund 1.
Commerce Vision, acquired by Potentia in 2021, said its sales order platform processes more than A$2 billion in sales orders every year.
Both businesses will continue to operate under their own names but say they can now more closely offer customers both products.
“Our businesses are both market leaders in their respective fields, so it makes sense to combine and add value and capabilities for our customers in Australasia and southeast Asia,” said Opmetrix chief executive David Barley.