Technology focussed private equity fund Potentia Capital is making its first major move across the Tasman, backing the purchase of New Zealand-based business Opmetrix by Brisbane-based Commerce Vision.
The move sees Commerce Vision, which offers world-class B2B eCommerce and automated sales order processing solutions, add Opmetrix CRM – a market leading field sales CRM platform – to its offering.
Commerce Vision CEO Gary Katzeff said the move would enable customers of both businesses to trade more effectively, and more efficiently across multiple digital channels, supported by one trusted partner.
“This announcement takes us a step closer to our vision of becoming the market leader for B2B digital commerce solutions in our region,” Mr Katzeff said.
“Commerce Vision’s existing capabilities, combined with those offered by Opmetrix, provide customers with exceptional solutions across eCommerce, automated sales order processing and mobile field sales”.
“Our businesses have similar roots having both been founded more than 20 years ago. We share exceptional reputations for customer satisfaction, and each bring significant expertise in the integration of digital commerce platforms with Enterprise Resource Planning systems – a critical requirement for B2B online trade.”
Mr Katzeff said his team was excited about the partnership and the opportunities that would be created for both businesses.
“We can offer much more as one team, and that is why today’s announcement is such an important step,” he said.
Opmetrix CEO David Barley said the partnership was the next logical step for the business after 20 years’ experience working across the Australian, New Zealand and southeast Asian markets.
“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,” he said.
“We’re seeing growing demand from existing and new clients for our solutions and these customers are also seeking eCommerce solutions, so the synergy is ideal”.
“Our customers know they can come to us for cloud-based sales solutions, anywhere, anytime, and now they have a whole new suite of services they can access to improve their businesses.”
Potentia Managing Director and Commerce Vision chairman Tim Reed commented “Potentia is excited to be able to back Commerce Vision to make our 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”
Opmetrix was established by Oliver Huggins in 1997. Over the last 25 years, their platform – Opmetrix CRM – has grown to become a leader in mobile field sales management.
The company works with over 2000 brands and has offices in Sydney and Christchurch.
The Opmetrix acquisition is Potentia’s first major foray into the New Zealand market.
ABOUT COMMERCE VISION
Founded in 2001, Commerce Vision is a market leader in B2B eCommerce and sales order processing automation, with over 200 clients across Australia and New Zealand.
Acquired by private equity firm Potentia in 2021, Commerce Vision’s eCommerce platform processes over $2 billion per annum in sales orders. Its rapidly growing automated order processing platform, Lucy, handles more than 1.5 million lines of order data across hundreds of thousands of purchase orders, every year.
Potentia, founded in 2014 and Australia and New Zealand’s only dedicated technology growth capital and private equity fund, invests in technology companies in Australia and New Zealand.
Beyond Commerce Vision and Opmetrix, Potentia’s recent acquisitions include superannuation services business SuperChoice, as well as booking and travel management software company NewBook. In January 2022, Potentia also took a minority stake in construction tendering and procurement platform EstimateOne.