PrimeQ acquires CRMNow in Oracle Cloud power play

PrimeQ acquires CRMNow in Oracle Cloud power play

One more acquisition on PrimeQ's path to a 2018 public listing

Andrew McAdams - CEO, PrimeQ

Andrew McAdams - CEO, PrimeQ

PrimeQ has acquired fellow local Oracle partner, CRMNow, as part of a plan for “aggressive growth” in the local cloud marketplace.

With offices in Sydney and Melbourne, CRMNow has made a name for itself focusing on its namesake, customer relationship management (CRM) software, and claims DXC’s Red Rock and PandaDoc as its vendor partners, along with Oracle.

According to PrimeQ, itself a business built on Oracle solutions, the acquisition will bring together its own expertise in enterprise resource planning (ERP), transportation management and warehouse management, and CRMNow’s experience in CRM software.

The deal is part of PrimeQ’s self-professed plans to become a “powerhouse” for Oracle Cloud across the Australian and New Zealand markets.

For PrimeQ CEO, Andrew McAdams, the merger represents a comfortable cultural fit that will bolster the company as it embarks on an acquisitions trail while working towards its proposed 2018 initial public offering (IPO).

“PrimeQ’s core value to ‘be grateful and remain humble’ continues to resonate with our customers and is a key tenet of our companies joining,” McAdams said.

“This is a major win for PrimeQ’s customers and investors, creating additional expertise to leverage the value of a full Oracle Cloud solution as we continue to grow our footprint in the marketplace.

“We want PrimeQ to become a single solutions provider for Oracle Cloud and we are targeting opportunities to join forces with like-minded specialists. As we continue to invest in the best expertise we welcome CRMNow to the PrimeQ family.'

The merger will see PrimeQ claim a total of 125 staff across its operations, with CRMNow’s existing talent set to be rolled into the combined entity.

According to CRMNow CEO, Rob McGregor, the deal provides certainty for the company’s team as well as a platform for future growth.

“PrimeQ is an innovative company that understands Cloud and is wholly focused on Oracle solutions,” McGregor said. “Our decision to become part of PrimeQ was easy for us because we had worked together on a number of accounts and the cultural fit makes sense for our customers.

“For our customers, it creates a full offering across the Oracle Cloud platform with a team that shares our commitment to excellence."

With CRMNow on board, PrimeQ said it is now looking to consolidate other partners into the business.

In September, PrimeQ announced the on-boarding of Mantis Solutions. The integration of the Perth-based company saw it rebranded and rolled into PrimeQ.

“Mantis improve our skill-set and will allow us to achieve more, while providing extra protection for our customer base, pushing all of us to a different level,” McAdams said at the time.

Also in September, PrimeQ received a major financial boost from UXC Limited founder and former chairman, Geoff Lord, as it eyes up its run for the Australian Securities Exchange (ASX) in 2018.

PimeQ revealed on 12 September that Belgravia Group, chaired by Lord, had stepped up as a cornerstone investment in the company.

Earlier this year, PrimeQ, revealed it was on a mission to raise $10 million on the ASX, in a bid to kick-off an acquisition-powered pathway to growth.

The company, which at the time anticipated a listing price of $0.50 per share, said it expected to list on the ASX by early 2018, in an initial public offering (IPO) likely to value the Australian-based business at around $50 million.

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