JCURVE SOLUTIONS LTD — M&A Activity 2018

Dec 16, 2018

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17 December 2018

Manager of Company Announcements ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000

By E-Lodgement

MEDIA RELEASE – JCURVE SOLUTIONS ACQUIRES SPECTRUM PARTNER GROUP

• Acquisition of the business assets of Spectrum Partner Group was successfully completed today

• Spectrum Partner Group is a NetSuite Two-Star Solution Provider based in Singapore

• Appointment of Arthur Fernandez as General Manager of JCS’ Asian operations

• • Completion purchase payment of S$300,000 was settled in cash out of JCS’ existing cash reserves with a further deferred earn-out cash payment component payable in August 2019

• Acquisition is the launch pad for further expansion into the growing ERP Asian market

JCurve Solutions Limited (ASX: JCS) is today pleased to announce that it has completed the acquisition of the business assets of Spectrum Partner Group (Spectrum), a Singapore registered Company.

Consistent with the information outlined to shareholders on the 6[th] of December 2018, the key details of the acquisition are as follows:

• JCS, via a 100% owned subsidiary has acquired the business assets of Spectrum for a completion purchase price of S$300,000 cash which was paid out of JCS’ existing cash reserves;

• A further uncapped deferred earn-out cash payment is to be determined by the level of revenue derived by Spectrum against nominated targets in the period post completion to 31 March 2019 and is payable by way of cash in August 2019. If current forecasts are achieved the deferred cash payment will be S$300,000;

• The assets being purchased as part of the acquisition include Spectrum’s customer and business contracts and the company’s goodwill;

• Appointment of Arthur Fernandez, the founder and a Director of Spectrum Partner Group as General Manager of JCS’ Asian operations

The JCurve Solutions Team including newly appointed General Manager, Arthur Fernandez are now focused on integrating the Spectrum business into JCS’ existing operations and expanding the business operations in the rapidly growing Asian market off the back of JCS being a trusted, publicly-listed company.

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Stephen Canning, CEO of JCurve Solutions explained “We see significant short-term opportunities across the South East Asian market for our solutions. The acquisition of Spectrum immediately boosts our revenue and profitability as well as increasing our customer numbers. Most importantly it will act as a launch pad for the further expansion of our business operations within Asia as well as building on JCurve Solutions’ position as NetSuite’s largest solution partner globally by customer count.

For and on behalf of the Board

Bruce Hatchman Chairman

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