FirstWave Cloud Technology acquired Saisei Networks, a Silicon Valley-based network automation software business.

This acquisition will enhance FirstWave's network management capabilities, bring in over 50 new clients, and increase cash reserves by around $200,000.

It will also add six new software engineers to focus on internet protocol enhancement.

The deal, paid in the issue of over 40 million new shares, is expected to add $1 million to FirstWave's annual revenue and aid expansion in North America and Latin America.