North York-based education tech company KEV Group has acquired North Carolina-based Technology Resource Associates (TRA).
KEV’s School Cash Suite was developed by school officials to simplify accounting and cash management tasks. The company’s platform focuses on the collection and tracking of school fees through ecommerce systems, point-of-sale payments, and accounting solutions. TRA’s SchoolFunds Online will join the School Cash Suite platform as part of the acquisition.
“This acquisition is a major milestone for KEV,” said Bram Belzberg, chairman and CEO of KEV Group. “TRA is a highly respected technology company recognized by their customers for the strength of their school accounting software solution and their dedication to customer service. Together, KEV and TRA become the market leader in helping parents and schools manage online payments and cash.”
After the acquisition, KEV’s software will be used in over 16,500 schools in Canada and the US, processing more than $3 billion in transactions annually. The company said this makes it the largest provider of cash accounting management and online payments software in North America.
“We are thrilled about joining forces with KEV and bringing the benefits of our partnership to our customers and the market,” said Tom Rickman, Founder of Technology Resource Associates. “We’ve always admired the KEV platform, and look forward to bringing even more value to our clients as a result of this partnership.”
