Nexvia, a Brisbane-based SaaS platform for construction-focused businesses, is being acquired by cloud-based procurement platform Felix Group Holdings in a cash and share deal worth $12 million.

The deal brings to the fellow Brisbane company a business that delivers annual recurring revenue of $3.3 million, reflecting organic growth at a 25 per cent compound annual rate since FY22. This would have given Felix pro forma annual recurring revenue in FY25 of $11.9 million.

Felix, which sees Nexvia as “highly complementary” to its enterprise procurement platform, plans to fund the acquisition through a $17 million capital raising which has been backed by global investment manager Briarwood Chase Management.

Felix co-founder and CEO Mike Davis says the acquisition will accelerate the company’s vendor monetisation strategy.

“Nexvia brings a proven, highly complementary platform and capability set to Felix, delivering a turn-key solution to activate and scale monetisation,” says Davis. “With a large and growing vendor base already in place, we are now well positioned to unlock the value of the ecosystem we have built.”

Felix says the acquisition of Nexvia will accelerate its vendor monetisation strategy by equipping vendor SMEs with a fully integrated suite of project and business management tools.

The acquisition will also unlock additional addressable segments of vendors which Felix’s Vendor Marketplace previously did not capture, such as fit-out specialists and SME builders.

“By adding Nexvia’s capabilities into Felix’s platform offering, the acquisition significantly expands product breadth and unlocks strong interoperability between enterprise procurement workflows and vendor project delivery,” says Felix. “The planned deep integration between the existing enterprise solution and Nexvia will strengthen network effects, enhance data insights and deliver an end-to-end procurement management solution for enterprises and SMEs.”