Brisbane-based TechnologyOne has agreed to pay around $10 million to acquire asset management specialist Jeff Roorda and Associates (JRA).

JRA provides asset management practice, training and implementation programmes for engineers, accountants and senior management in Australasia and North America. Its customers include San Francisco's Bay Area Rapid Transit (BART).

The company's software is designed to provide long-term planning, risk management and performance optimisation strategies for organisations that manage public infrastructure worth billions of dollars.

"JRA's deep functional and industry knowledge will expand our leading enterprise solution for asset-intensive organisations, delivering specialist expertise and capability to our customers," said TechnologyOne executive chairman Adrian Di Marco.

"The unique IP and market-leading functionality we are acquiring with JRA supports our vision of delivering enterprise software that is incredibly easy to use and that meets the needs of customers in our target markets.

"This acquisition enables us to improve upon our existing offering, particularly for customers who have invested in our asset management software."

Di Marco added "We remain deeply committed to supporting JRA’s existing software, and will invest in redeveloping the solution to integrate into our software platform and deliver as a Software as a Service offering.

"This will provide our customers with a consistent experience across all our solutions."