July M&A blog: Active M&A activity to start the Financial Year 2024

2. Aussie property tech vendor Loci Solutions snapped up by MRI Software

Sydney-based real estate technology provider Loci Solutions had been acquired by global vendor MRI Software. Founded by Nikki Steadman in 2007, Loci Solutions is an Australian property technology consulting and outsourced managed services company serving commercial, industrial and retail property markets in Asia Pacific (PAC). Loci is currently an MRI-certified partner specialising in the implementation of property management systems (PMS) for property developers, managers and owners and investors. It also provides value-add outsourced accounting and lease administration services, as well as concierge support. MRI Software, meanwhile, is a provider of real estate software solutions. The acquisition of Loci Solutions will add outsourced services to its commercial property technology offerings in APAC. As a result of the deal, Loci CEO and co-founder Steadman will lead the APAC MRI work professional services and support team, which claims to handle some of Australia’s largest and most complex commercial real estate portfolios.

3. Ipsos acquires Big Village Australia

Market research company Ipsos has acquired Big Village Australia, an insights business that covers public sector market research, employee research and customer experience. The acquisition aims to enhance Ipsos’ position in the Australian market, as well as strengthen its capabilities across government and social sectors, and customer and employee experience. It also contributes to the company’s 2025 growth plan, which plans to bolster its global public affairs business. Ipsos ANZ CEO, Simon Wake, said: “This acquisition will help grow Ipsos’ operational expertise in the Australian market with highly complementary skillsets in data collection, government, social and customer experience research and important new expertise in employee experience. We warmly welcome the former Big Village Australia team and clients to Ipsos.” Ben Page, Ipsos CEO, added: “The acquisition is at the heart of our ambition to grow in public sector research and develop our Australian business to be the largest best-in-class market research agency. Big Village Australia brings some more great people to Ipsos and further expands our reach in Australia, we’re delighted to be able to make this acquisition.” Big Village Australia will support Ipsos’ existing research expertise, bringing in large-scale federal government programs, as well as multinational clients in the professional services and IT sectors. It also conducts extensive programs that provide employee experience assessment and advisory services across government and commercial clients.

4. Five V invests in Permaconn

Five V Capital are excited to announce our sixth Fund IV investment, acquiring a majority shareholding in Permaconn, a leader in alarm signalling communications technology. Founded in 1999, Permaconn has grown to become the default choice for professionally monitored alarm connectivity, underpinned by a clear history of technology leadership and focus on customer solutions. Five V’s investment will support the business during its exciting next phase of organic and acquisitive growth. We look forward to partnering alongside Permaconn’s existing management team: Marc Englaro, Andrew Lee, Chad Pierce and Kendall Paix. Five V’s Tim Cooper said: “We are excited to partner with Marc and the whole Permaconn team. Permaconn’s continued strong technology innovation and remarkable business metrics are a credit to the team and we look forward to bringing Five V’s tech-enabled growth expertise for the next phase of the journey.” Permaconn CEO, Marc Englaro said: “We are delighted to have partnered with Five V and excited that they share our vision for the future of the business. The whole team is looking forward to the next chapter.”

5. Valsoft Corporation strengthens Local Government vertical with the acquisition of Forms Express

Valsoft Corporation Inc. (“Valsoft”), a Montreal-based company specialized in the acquisition and development of vertical market software businesses, is pleased to announce the acquisition of Forms Express, an industry leader in transactional mail, billing and payment services across Australia and New Zealand. Forms Express has over 28 years of experience in delivery of transactional mail services on behalf of Local Government, Water Authorities and Utility clients in Australasia. Forms Express, as a leading provider in the region, has revolutionised the way in which bills are delivered and paid through its “eNotices” omnichannel platform, delivering millions of bills annually with instant online and scheduled payment options for their clients’ bill payers. “Our ongoing innovation of electronic delivery and payment services has resulted in accelerating our client’s payment collection and providing them greater flexibility and visibility over the entire transactional process. I determined that for our future success, we needed to explore a strong partnership that would allow us to bring new products to market quicker,” stated Pat O’Connor, Forms Express’s CEO. “My goal was to find a strong partner with software and billing expertise who could continue our legacy of having a meaningful connection with our customers as well as someone that had an existing global presence in the space.” With this latest acquisition, Forms Express becomes the third company in the Local Government vertical to join Aspire Software – the operating group at Valsoft.

6. Deloitte buys product life-cycle management specialist d-twin

Deloitte has picked up Melbourne-based product life-cycle management specialist d-twin for an undisclosed sum, with a team of 18 including five directors set to join Deloitte later this month. Melbourne-headquartered product life-cycle management (PLM) specialist d-twin is set to board the D-train, becoming Big Four professional services firm Deloitte’s latest acquisition. An 18-strong team of technicians and consultants will join Deloitte as part of the transaction, including d-twin founder Steven Godsell and managing director Barry Tregidgo, who become directors alongside Andrew Bradford, Garry Russell and Brendon van Ras. “As Australia seeks to reindustrialise and take advantage of future growth industries on the global stage, it requires advanced technologies, innovations and active participation in global supply chains,” said Jesse Sherwood, Deloitte’s smart industries leader. “PLM technologies provide a platform to enable this value to be unlocked through a continuous digital thread spanning design, manufacturing and through the entire life-cycle of an asset or product. Deloitte said the deal would see it significantly grow its Australian market presence in the specialised PLM segment, creating the largest offering in the country across consultancy, implementation and embedded support. In the firm’s own words, d-twin offers cost-effective and low-risk delivery of Siemens-enabled PLM solutions, allowing for seamless collaboration across an organisation. The d-twin is due to join Deloitte later this month. Sherwood continued; “On their own, Deloitte and d-twin have been delivering high-value PLM solutions for a number of years across complex product and asset heavy sectors. Integrating the highly experienced d-twin team into Deloitte’s Smart Industries practice will add further scale and depth of capability, enhancing our ability to serve Australian clients with the solutions they need to participate in global supply-chains and create genuine sovereignty.”

7. Geelong-based advisory firm ProAdvice joins Moore

Accounting and consulting network Moore has picked up Geelong-based advisory ProAdvice, which has a team of more than 30 professionals. The Victoria and Tasmania branch of accounting and consulting network Moore Australia has had a significant boost with the addition of Geelong-based advisory firm ProAdvice, with the deal also adding a new Launceston outlet to Moore’s growing regional footprint. The firm has boosted its headcount by more than 30 professionals, including three directors and eleven specialists, doubling the size of its Geelong and Western District team. “ProAdvice’s decision to join our firm is a significant milestone in the growth of the Moore network,” said Victoria and Tasmania chief executive Steven Sakkas. “ProAdvice has been very familiar to us in terms of their culture, client servicing ethos, and regional expertise for a very long time. By being together it means we will be able to expand our capabilities, connections and opportunities within the Geelong District and Launceston markets.” Established in 1990 as an agriculture sector specialist, ProAdvice has since grown to provide strategic consulting and accounting services to clients across a wide range of industries, including the sports & recreation, building, travel, healthcare and retail sectors. In addition to cultural fit, Sakkas stated that ProAdvice’s regional standing and specialist portfolio including agribusiness services were motivating factors in bringing the firm on board. “The move will create immediate synergies for our clients,” Sakkas commented. “It will give our city clients access to a deeper set of regional skills and capabilities.

8. Rennie adds carbon footprint tool to its decarbonisation offering

Homegrown management consultancy Rennie has inked a partnership with Compare Your Footprint, a software provider that provides efficient insight into carbon emissions and decarbonisation pathways. Rennie’s ESG Leader, Arvind Sharma, said that the partnership with the UK-based technology provider followed a comprehensive global assessment of ESG digital tools. “Compare Your Footprint is a cutting-edge and audit ready diagnostic tool that can quickly pinpoint actionable and practical solutions.” As part of the agreement, Rennie’s ESG practice will integrate the tool into its offering. “With this partnership we are well positioned to support businesses to develop a robust decarbonisation roadmap supported by rigorous carbon reporting, and benchmarking their carbon performance against peers,” Sharma said. Established in 2017 by co-founders Will Richardson and Emma Littlewood, Compare Your Footprint helps organisations of all sizes and industries to get started on their environmental journey. The platform’s data aggregation capability and database of 10,000+ carbon factors enables organisations to significantly reduce the cost of carbon emissions assessment and reporting across operations including supply chain, projects, products, and events, covering Scope 1, 2 and 3 emissions. Compare Your Footprint ensures compliance with key regulatory requirements including the GHG Protocol, Science-Based Targets, and the National Greenhouse and Energy Reporting Act.

9. Deloitte buys Mainsheet Capital

The managing director of Deloitte’s latest acquisition in WA says the deal is almost a homecoming, having started at the Big Four audit and consulting firm 30 years ago. Maurice Argento and his fellow principals in M&A advisory business Mainsheet Capital WA will take up senior roles with Deloitte in Perth after accepting a buyout from the global firm. Mr Argento, whose career has also included stints at PwC and BDO, said Mainsheet had been grappling with how to tackle its next growth phase when it was approached “out of the blue” by Deloitte in late-2022. “There’s quite a lot of opportunities out there. And for a private business like ours we are unable to participate in some of the bigger ones because we don’t have the brand,” he said. “So being part of a branded firm allows us access to a table that otherwise we wouldn’t be getting to.” Mr Argento, Emma Wright, Gerard Moody and Ian Gordon will transition across from Mainsheet as partners with Deloitte’s financial advisory business, and Bill Bent as a principal. Deloitte hailed Mainsheet’s “excellent track record”, saying the deal would complement its services in M&A advisory offering in WA.

10. Jonas Software Acquires Theta Technologies

Jonas Software (“Jonas”) is pleased to announce the acquisition of Theta Technologies Pty Ltd (“Theta”). Through its innovative platform InformationLeader, Theta provides quality assurance software that streamlines information capture, management and reporting with a core focus in the agricultural and primary industries sector and several other markets due to the flexibility and capability of the solution. “Theta is an excellent addition to our Jonas family and a strategic acquisition in our portfolio,” said Jeff McKee, Group CEO at Jonas Software ANZ. “Jonas is quickly expanding it’s reach within the global agriculture industry and with Theta on the team, we’re excited for the possibilities it brings.”

11. Atturra buys HR and payroll consultants Silverdrop

ASX-listed Atturra is on the acquisition trail again, this time looking to buy Sydney human resources and payroll company Silverdrop. The deal will be done through the technology service provider’s subsidiary Galaxy 42, with an upfront cash consideration of $2.207 million in cash plus $0.5 million in Atturra shares. An earn-out consideration of $0.6 million in cash, subject to Silverdrop achieving performance hurdles, is also on the table. Silverdrop specialises in HR and payroll services with the technology the company uses, Frontier Software’s Chris21 in particular, being widely used by local councils in Australia. The Sydney company also supports Frontier Software’s ichris (international comprehensive human resource integrated software). Atturra chief executive Stephen Kowal said the acquisition of Silverdrop aligns nicely with the technology service provider’s industry and technology strategy.

12. Teradata acquires Stemma to boost AI-based data search for analytics

Teradata has acquired data catalog software provider Stemma to enhance its Vantage self-service analytics platform with Stemma’s AI-based data search and exploration capabilities. “Stemma’s automated data catalog capabilities will help Teradata deliver an enhanced user experience designed to accelerate growth in the flourishing area of AI and machine learning-based analytics,” Hillary Ashton, Teradata’s chief product officer, said in a statement. without disclosing the financial terms of the transaction. Stemma’s software can integrate with data warehouses, business intelligence tools, collaboration software, and security tools, among other things. It has nearly 20 built-in data connectors, which Ashton expects will strengthen Teradata’s data fabric and accelerate the analytics productivity of the Vantage platform.