M&A deals in Aug in the People and IP-based sectors

1.?????? Spirit acquires Forensic IT as FY losses continue to shrink

Spirit Technology Solutions is gearing up to acquire Forensic IT solutions for a total value of $9.2 million amid the announcement that it has continued to shrink its loss after tax. Founded in 2013, the Melbourne-based cyber security firm is viewed as “highly complementary” to Spirit’s security offerings through the business’ cyber security segment,?Infotrust. By acquiring the firm, Spirit claimed it can scale its cyber security division. Specifically, the managed services provider claimed that “there are revenue and margin accretion opportunities through the acquisition by expanding its cyber capability to enable rapid response to cyber incidents”.

2.?????? EQT to invest in Compass to accelerate company’s innovation and education software solutions

Compass, a leading K-12 vertical SaaS software company, and EQT, a purpose-driven global investment organization, today announced the signing of definitive agreements under which EQT will invest in the Company to support its ongoing growth, product development and innovation. Founded in 2010 and headquartered in Melbourne, Australia, Compass is a full-suite, cloud-based school management platform for the K-12 education market. Compass is today used by more than 3,000 schools and over 4 million parents, teachers, and students, and has recently expanded to provide its innovative education solutions to users in Ireland and the UK. Compass offers a variety of management solutions for individual state schools, private independent schools, enterprise education dioceses and State and Territory education departments. With EQT’s backing, Compass is poised to continue growing in Australia and its key markets at a time when schools are actively modernizing their systems and transitioning to the cloud. Against this backdrop, Compass is well positioned to see even greater adoption of its suite of more than 40 modules and embedded payments offerings.

3.?????? Lumify Group snaps up Wizard Corporate Training

Lumify Group has acquired training provider Wizard Corporate Training, expanding its training portfolio by 25 courses. According to Lumify, Wizard serves approximately 7,000 organisations Australia-wide and has a strong presence in the ACT. With Wizard in its wheelhouse, Lumify said its customers will gain access to a range of training solutions, including short professional development courses, application IT training, management tools and custom training programs. Wizard is planned to be integrated into Lumify’s?Nexacu?brand, with the latter set to benefit from a national schedule of professional development courses as a result.

4.?????? Blackbird IT acquires Calvert Technologies

Calvert Technologies was founded in 1995 by CEO Dean Calvert and has serviced over 1,200 clients throughout SA and the Northern Territory. In a statement, Blackbird IT said Calvert Technologies’ entire team has moved over to its head office in Adelaide, with the latter’s clients expected to see no change in operations. Additionally, the integration of Calvert Technologies “aligns with [Blackbird IT’s] vision of enhancing service capabilities and strengthening our position in South Australia.” Calvert Technologies will continue to operate as its own entity in the near term, with the longer term goal to roll it into the Blackbird IT brand. It also marks the second acquisition for Blackbird IT in two years, with it previously acquiring Sydney-based MSP Autonomous IT in 2022. That acquisition, Blackbird IT claimed, enabled its expansion into the NSW market.

5.?????? Infrastructure consultancies MBB Group and iPLAN Consulting join forces

Two consultancies focused on project management advisory to the built environment – MBB Group and iPLAN Consulting – have joined forced to create a near 200-person consultancy firm with six offices across Australia and New Zealand. The larger of the two firms, MBB Group, was founded in 2014 and today employs around 150 people working form hubs in Sydney, Adelaide, Brisbane, Melbourne, and Auckland. MBB Group provides advisory services during the strategy, development, delivery and operations phases of construction and infrastructure projects. The firm provides counsel around planning, investments and commercials, advises on financial transactions, and supports the hands-on delivery of projects. Founded in 2005, iPLAN Consulting specialising in planning and controls for projects within the built environment. The 25-person business operates from offices in Brisbane, Perth and Sydney. Matthew Brook, Managing Director of MBB Group said that the joining of forces will benefit both businesses, while creating a strong group with a deeper and more diversified portfolio of services.

6.?????? HSO Acquires Aware Group

HSO has acquired New Zealand-based Aware Group (Aware). Aware specializes in leading-edge Data and AI solutions for customers worldwide. As an award-winning Microsoft solutions partner, Aware has positioned itself at the cutting edge of Data and AI solutions. For nearly a decade, the company has consistently led customers in leveraging the power of machine learning and generative AI to enhance their data strategies. With a proven history of success, Aware has helped hundreds of companies explore AI solutions and has taken dozens of these experiments from prototype to production, many of which have saved clients millions annually in operational costs and created efficiencies of up to 99%.

7.?????? Sourced.nz has become part of the Expert360 family

We are delighted to announce that?Sourced.nz?has become part of the Expert360 family this week.?Sourced IT Recruitment?was founded by two incredible individuals,?Jason Bishop, FRCSA and?Michelle Bishop, FRCSA, in Christchurch, the day before the earthquakes in 2011. They have built an incredible team and business over the past decade. We have watched them from the sidelines, and are humbled by their achievements, commitment to talent and clients alike. This partnership expands Expert360’s capabilities further solidifying our commitment to deliver leaders and organisations of New Zealand the very best talent, on-demand, helping to superpower Sourced with our proprietary AI technology.

8.?????? Iron Mountain has acquired APCD

Iron Mountain has successfully acquired leading Australian IT asset disposition (ITAD) and hardware asset management provider, APCD. This acquisition marks a significant milestone for Iron Mountain’s expansion of Asset Lifecycle Management (ALM) services in the APAC region. With this partnership, we will benefit from decades of industry experience, network coverage across the primary markets in Australia, strong customer relationships, a wealth of expertise, plus a dedicated team ready to drive our ALM ambition in the region. This is a strategic move that reaffirms our position as a global market-leading Asset Lifecycle Management provider.

9. Banyan Software announces acquisition of WorldSmart

Banyan Software, a leading acquirer and permanent home for great software businesses, is excited to announce the acquisition of WorldSmart from the respected RD Jones Group. WorldSmart offers integrated point-of-sale and loyalty solutions that deliver e-commerce capabilities and business intelligence to the retail industry. With over 30 years of experience and serving more than 2,600 supermarkets, greengrocers, and other retail outlets, WorldSmart is focused on helping businesses save time and money through an integrated, cloud-ready retail solution, setting the industry benchmark.

10. French giant Havas expands in Melbourne by snaring media and creative agency Hotglue

Havas, a global communications giant based in France, is acquiring independent Melbourne media and creative agency Hotglue in a move that expands the centuries-old company's existing Australian media, digital and content footprint. The proposal, which is still subject to regulatory approvals, will see Hotglue merge with Havas Media Melbourne to create a “larger, more dynamic team with enhanced expertise and leadership across digital, ecommerce, media and activation functions”. Hotglue founders Nick Smith, Lewis Hearn and Matt Hearn will lead the expanded Havas Media Melbourne team of?65 and take the Havas presence in Melbourne to more than 120 staff across media, creative, PR, health and digital project management. Havas, a company that traces its origins in Paris as far back as 1835, already has a strong base in Sydney with a suite of brand, media and innovation agencies.

11.?? IntelligenceBank acquires AI-powered marketing compliance platform Red Marker

Melbourne-based digital asset management group IntelligenceBank has acquired Red Marker, an AI-powered marketing compliance platform, in a move that cements a long-term collaboration between the two companies. IntelligenceBank co-founder and CEO Tessa Court describes the acquisition as a “massive leap forward” in providing critical support covering compliance issues for marketing content providers.

12.?? Swoop completes divestment of wholesale voice business to Pivotel

As part of the transaction, Swoop has entered into a 5 year contract with Pivotel to maintain its wholesale rates and cost structure. The purchase price represents a 5.2 and 4.5 times multiple of the business units FY23 and FY 24 normalised EBITDA. $8m was paid by Pivotel in cash on completion. An additional amount of $1m has been retained by Pivotel and will be adjusted based on performance of the business for 9 months post completion.

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