accesso Technology Group PLC said it is acquiring Paradocs Mountain Software, a Canada-based ski software solutions provider, for a total of $10mln, comprising $9mln in cash and $1mln in stock.
The purchase will expand accesso's global customer base, adding 50 ski resorts and extending its leading position in the ski market, investors were told.
Established in 2001, Paradocs helps ski resort operators optimise the visitor experience with its comprehensive mountain management solution, MtnOS, currently used by 48 Canadian and two US resorts.
The deal will further solidify accesso's position as the leading technology solutions provider in the ski industry and deliver growth in eCommerce revenue.
Paradocs reported revenues of C$2.34mln in the fiscal year ending 31 August 2022, a 35.8% increase over the same period a year earlier, with a gross margin of 93.5% and a net income margin of 16.6%.
"accesso is passionate about serving the ski industry, and incorporating Paradocs' specific expertise and experience into our offering is a powerful step forward in addressing the unique and evolving technology demands of the burgeoning ski market," said Steve Brown, accesso's chief executive.
"Adding this contemporary and powerful solution to our offering supports Accesso's long-standing commitment to serving as the industry's premier ski solutions provider."
accesso is a specialist in queuing solutions with its software used by many of the world's largest visitor attractions.