Dunedin-based appointment and booking software developer Timely is being sold to US-based service commerce platform EverCommerce.
The two have have agreed terms though the sale has not yet been executed due to the need for regulatory approvals.
Overseas Investment Office consent is required in New Zealand if a local business is sold to an overseas buyer for more than $100 million.
Timely co-founder and CEO Ryan Baker said Colorado-based EverCommerce and Timely shared a passion for the beauty and wellness industry and were also culturally aligned.
"We’re now able to take the next step in global expansion knowing we have industry experts, who know how to deliver value to small business owners and scale software companies, at our back," Baker said.
EverCommerce offers a suite of software-as-a-service (SaaS) solutions across business management, customer engagement, marketing as well as billing and payments.
Timely, founded in 2011, offers appointment booking software for small salons and beauty businesses. It claims to be used by more than 50,000 beauty professionals across 90 countries.
Timely joins the EverCommerce fitness and wellness portfolio that delivers tailored, integrated, and convenient experiences for guests, while providing specialised functionality for business owners.
The acquisition expands EverCommerce's offerings and reach in the salon and spa industry to the United Kingdom, Australia and New Zealand.