Cloud accounting software company JCurve Solutions acquired telecom consulting services company the Full Circle Group and raised an additional $2.5 million to attack the SMB market. JCurve bought the telecom consulting services company for $2.9 million in cash and shares.
“The acquisition brings the company a leading cloud software platform, as well as added management, sales and development capability,” said Chris Gabriel, director of JCurve Solutions, in a press release.
“It also introduces a new range of consulting services including benchmarking, auditing and optimisation, proposal evaluation and tender management,” Gabriel said.
The capital raising came after a placement of 50 million shares at $0.05 per share to investors. JCurve planned to spend their capital on digital marketing campaigns for accountants, partners and hire additional staff.
“The funding will let JCurve raise its profile and capitalise on the opportunities in the growing cloud SMB software market,” said Graham Baillie, managing director of JCurve Solutions, in the release.
JCurve Solutions was founded in 2013 and was an Australian-owned IT company focused on cloud and mobility solutions.