Dozens of deal in the BtoB Services sector in Feb-26

2. Exa Capital Acquires Flow Software

Exa Capital today announces the acquisition of Flow Software, a leading systems and data integration solutions provider serving businesses across Australia and New Zealand. Founded in 2004 and headquartered in Auckland, New Zealand, Flow Software delivers a powerful integration-as-a-service platform purpose-built to help organizations automate data flows, unify information across disparate systems, and enable faster, more informed decision-making. Through its flagship Statelake platform, Flow connects ERP, WMS, CRM, 3PL, EDI, and eCommerce systems into a unified, managed environment, eliminating manual workflows and keeping critical data flowing reliably across retail, logistics, FMCG, and distribution operations. With an 11-year average customer partnership and over 140 businesses supported, Flow has earned a reputation as one of the most trusted integration partners in the ANZ market. The acquisition marks Exa Capital’s second portfolio company in New Zealand, deepening its international presence in the ANZ market.

3. 11:11 Systems buys Brisbane-based MSP Digital Sense

11:11 Systems (“11:11”) has acquired Digital Sense, a Brisbane-based cloud and managed services provider previously owned by Aussie Broadband. The company was acquired by Aussie Broadband as part of its $390 million acquisition of Over The Wire in 2022. Changes made by Broadcom to the VMware Cloud Service Provider ecosystem, reducing the number of authorised VMware partners, as well as the launch of Aussie Broadband’s ‘Look-to-28’ strategy, which classifies the organisation as a telco rather than a broad technology company, meant the decision was made to divest the Digital Sense cloud business to ensure customers continued access to VMware cloud infrastructure. Over the past several years, 11:11 Systems has acquired multiple VMware-based businesses, including iland Cloud, Green Cloud Defense, Unitas Global, Sungard Availability Services, Faction and Ntirety. The acquisition of Digital Sense marks 11:11’s seventh purchase of a former VMware CSP and tenth acquisition overall.

4. NZ’s Bastion deepens Australian presence with Astralas acquisition

Melbourne cybersecurity and IT provider Astralas has been acquired by New Zealand-based Bastion Security Group for an undisclosed sum. This is Bastion’s fourth Australian acquisition, following MSPs Cythera in 2024 and Seamless Intelligence in 2025, and professional services provider Phronesis Security in January 2026.  The company said the move deepens Bastion’s professional services capability in Australia and reinforces its commitment to delivering end to end cybersecurity services.  Astralas’ 60 staff will join Bastion, including its senior management, bringing the number of cybersecurity professionals Bastion employs up to 250, with half located in Australia. Bastion said Astralas had expertise with security architecture, security engineering and automation, identity and access management, and cloud consulting and engineering, with a focus on financial services, telecommunications and enterprise critical infrastructure.

5. Aussie Broadband buys Nexgen, sells off Digital Sense Hosting in ‘successful’ first half FY26

Aussie Broadband is shaking up its acquisitions with the purchase of Nexgen from Infotrust and the selling of Digital Sense Hosting amid posting its “successful” results for the first half of the 2026 financial year. The service provider will pay an upfront cash consideration of $44.1 million for Nexgen on completion and up to an additional $5.9 million subject to meeting earnings before interest, tax, depreciation and amortisation (EBITDA) targets, totalling $50 million. The purchase of Nexgen adds about 6,000 small-to medium-sized enterprise (SME) customers on the National Broadband Network (NBN) with an average contract length of four to five years to Aussie’s remit, as well as an agentic AI product set aimed at small businesses. It will continue to operate as a standalone entity, with “limited” integration into Aussie, according to a statement on the Australian Securities Exchange (ASX).

6. Superloop acquires Lynham Networks for $165M

Superloop is set to expand its footprint with the acquisition of Lynham Networks, the parent company of Lightning Broadband, for $165 million in cash. This comes amid posting a relatively profitable first half of the 2026 financial year. Founded in 2015, Lightning operates an open-access wholesale networks across more than 400 multi-dwelling units and single-dwelling unit develops as a default last mile fibre provider. The deal sees Superloop pick up Lightning’s wholesale fibre-to-the-premises (FTTP) network, which includes roughly 54,000 lots across Victoria, NSW, the ACT, South Australia, Queensland, and Western Australia. As a result, the internet service provider’s (ISP) smart communities division will grow to a total contracted footprint of 170,000 lots, consisting of approximately 84,800 constructed lots and around an additional 85,500 future lots.

7. AFRY to acquire AMC, a global leader in mining and metals consulting

AFRY has entered into an agreement to acquire AMC, a leading independent mining consultancy. With around 170 employees, AMC brings deep sector knowledge and technical expertise that will strengthen AFRY’s position as a global leader in the Mining & Metals sector, expanding capabilities across the full mining life cycle as well as adding new strategic markets for Segment Mining & Metals. Established in 1983, AMC is globally recognized for its mining strategy optimization, evaluation, planning, and advisory services. The company has a 40-year track record and strong relationships with over 90% of the world’s leading 50 mining companies. This acquisition supports AFRY’s ambition to grow internationally in key markets like Australia and Canada.

8. efex has acquired Shepparton-based MSP Compusult

Australian managed services provider efex has acquired Shepparton-based MSP Compusult. Founded in 1996 by Managing Director Brad Smith, Compusult delivers managed IT services, cloud solutions, cybersecurity, Virtual CIO and helpdesk support, with a strong focus on regional and rural customers – primarily in the Goulburn Valley. The acquisition strengthens efex’s existing network and supports its ongoing strategy of expanding through targeted acquisitions of well aligned MSPs. efex founder and CEO Nick Sheehan said Compusult’s regional focus and customer centric approach made it a strong strategic fit.

9. Aspire Systems enters Australasia with Assurity buy – Acquisition to enable Assurity to face AI revolution head-on

Wellington-based digital and software quality consultancy Assurity Consulting has been acquired by Aspire Systems, marking the global technology services firm’s entry into both the Australian and New Zealand markets. Based in India, Aspire Systems has a global presence with over 4,500 employees. The acquisition brought major global investment to Assurity and established it as Aspire Systems’ presence in Australia and New Zealand, Assurity managing director Garth Hamilton told Reseller News. This investment would allow Assurity to face the AI revolution head-on and gave access to a wider range of resources, tools and expertise to take to clients across Australasia, he added.

10. Banyan Software Acquires GaP Solutions, Supporting the Future of Independent Retail Technology

Banyan Software, an acquirer and operator of mission-critical software businesses, is pleased to announce the acquisition of GaP Solutions Pty Ltd, a leading Australian provider of integrated point-of-sale, back-office, and loyalty software built specifically for independent grocery retailers. This partnership supports GaP’s ongoing growth and product innovation while staying true to the values that have guided the business. Founded in 1992 and headquartered in Adelaide, South Australia, GaP Solutions began as a supplier of hardware to local supermarkets and bakeries. Through close relationships with store owners, founder John Goodacre recognized a critical need for technology tailored to the complexities of independent grocery, fresh food, and fuel retail. That insight led GaP to evolve into a full-service retail software provider, developing the proprietary Easy Manager Cloud platform to offer retailers a single, integrated solution. From the beginning, GaP has prioritized domain expertise, long-term customer partnerships, and operational reliability. This focus has helped establish GaP as a trusted technology partner to independent retailers across Australia.

11. LocationiQ has joined Colliers

LocationiQ has joined Colliers, strengthening their diversified professional services brand. LocationiQ is Australia’s leading location data and analytics advisory company, specialising in insights that help clients make smarter property and network decisions. They also own several innovative data sets and geospatial and mapping platforms, including iQCensus and iQDataMap. LocationiQ brings an impressive client base of major retailers, developers and investors across sectors including retail, office, industrial, build-to-rent, mixed-use, health, childcare and aged care.

12. Aussie telehealth start-up Eucalyptus snapped up by US giant in $1.6b payday

An Australian start-up digital healthcare service has cashed in a huge billion-dollar pay day after being acquired by a major US company. Eucalyptus, which offers Pilot (men’s health), Kin (fertility), Software (dermatology) and Juniper (weight loss and menopause), has been purchased for $1.6 billion by Him & Hers. The Aussie company’s more than 100 staff have reason to celebrate due to Eucalyptus’ employee share option plan – which has now resulted in staff members collecting a life-changing payday. The acquisition by New York Stock Exchange-listed Hims & Hers of the seven-year-old business will be one of the biggest staff share payout in Australian corporate history and create a fortune for early-stage backers. Eucalyptus is best known for its medical weight-loss brands Juniper and Pilot, which prescribe GLP-1 medication similar to Ozempic and Mounjaro, and has other telehealth services such as a fertility program. Last week, it announced a sale to Hims & Hers, which has a raft of similar products, becoming the core of the American giant’s international division.