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Ivrnet, a Software as a Service (SaaS (News - Alert)) provider, has reportedly signed a letter of intent to acquire NeatWorx Web Solutions Inc., a Canadian firm. NeatWorx Web Solutions develops web-based content management, registration and payment solutions, which are used by the associations and sporting clubs across the North America.

The move is aimed at enhancing the product line of ITSportsNet, a brand under which Ivrnet sells its sports administration software products. The ITSportsNet products are designed to simplify and manage processes including registration, scheduling and website content.

The acquisition will allow ITSportsNet to add new features to its own total product offerings. NeatWorx's online features such as camp registrations, birthday bookings and recreational class registrations will be added to ITSportsNet's total product offerings. This will help the company to reach out to a much broader customer base, Ivrnet explained in a press release.

“We believe NeatWorx will enhance the product, service and sales offerings of ITSportsNet, the North American leader in online sports administration, whom we acquired last year. We are optimistic that by adding some of NeatWorx's online features such as camp registrations, birthday bookings and recreational class registrations to ITSportsNet's total product offerings, we will appeal a much broader customer base. As well, NeatWorx's market presence in the United States parallels our strategic growth plans for the ITSportsNet brand,” David Snell, president and CEO of Ivrnet noted in a statement.

NeatWorx has a significant market presence among Canadian and U.S. based federal and state level associations as well as private businesses. Its club level registration solution has been endorsed as a preferred solution by both Gymnastics Ontario and Gymnastics British Columbia. The acquisition is expected to open up new opportunities for the company’s customers.

“Ivrnet shares our passion and our values. It also opens up a range of new and exciting opportunities for our customers, and makes possible a broader range of services and capabilities than we could ever hope to deliver on our own,” Gord Sissons, founder of NeatWorx noted in a statement.

In separate news, Ivrnet announced that it has received the approval of the TSX Venture Exchange and completed the previously announced transaction to acquire Calgary-based TxtMeNow mCommerce Inc.