RPM entered into a share purchase agreement to acquire 100% of private Quebec-based software-as-a-service (SaaS) and cloud delivered inventory optimisation management and forecasting solution company, IMAFS.

Consideration for the acquisition is C$1.3 million up front, plus post-completion payments of $900,000 based on subscription milestones.

The company said IMAFS' namesake product was built to optimise the inventory of large asset-intensive companies.

IMAFS have developed a hosted subscription service that allows inventory data to be extracted from a company's enterprise resource planning product or computerised maintenance management system and analysed programmatically.

The company has a number of active customers with committed annually recurring subscription revenue of C$500,000 per annum.

IMAFS' proprietary and cutting-edge algorithms also include artificial intelligence logic which incorporates parameters such as transport mode, carrier, weather, customs, seasonality, holidays, availability and many other data points.

"This product is a great fit with the existing RPM product suite and further builds on our cloud and optimisation offerings," RPM CEO and managing director Richard Mathews said.

"Whilst IMAFS can be sold stand-alone, we also intend to provide IMAFS integrated with the AMT suite as a parts and inventory optimiser. It will also be sold as part of our AMT4SAP suite."

The acquisition is expected to close next month. IMAFS founder Robert Lamarre will continue his involvement with promoting IMAFS through a third party business partner authorised to market and distribute the products to customers in North America outside of mining and resources.

Meanwhile, K2fly has agreed to acquire Perth-based Sateva, which provides innovative software solutions and IT consulting services, including software development and services for the mining, resources and rail industries.

Consideration is A$2 million in scrip with further contingent payments due over 3.5 years.

RPM shares closed 7% higher at $1.135.

The Sateva products will tie directly into K2fly's SaaS-based resource governance software solutions.

The company specialises in building IT applications in areas such as exploration, grade control, planning, ore tracking, inventory management, reconciliation, and data management, and is also developing a new solution for block modelling.

Sateva's major clients include Rio Tinto, Roy Hill and Fortescue Metals Group.

At September 30, Sateva had assets of $2.96 million and cash of $2.55 million.

"We are constantly looking for complementary software solutions that further improve and extend our customers' experience," K2fly CEO Brian Miller said.

"Sateva and our new block model management capabilities will be a game changer in the mining industry and beyond, as we use modern technologies to dramatically improve what is increasingly a big data management and governance problem for the resources industry."

Sateva founder and managing director Mark Forster will join K2fly as chief development officer.

K2fly shares rose 2.8% to 36.5c.