M&A Activity Remains Strong in September Including SCD transaction Libertas/LVP!

2. IG Group acquires Independent Reserve to strengthen crypto presence in Asia Pacific

UK-based online trading giant IG Group has acquired Sydney-headquartered cryptocurrency exchange Independent Reserve for $178 million, expanding its footprint in the Asia-Pacific region. Founded in 2013 by Adam Tepper, Adrian Przelozny and Lasanka Perera, Independent Reserve has grown into one of Australia’s largest digital asset platforms, serving retail and institutional customers across Australia, New Zealand and Singapore. The business generated $35.3 million in revenue in FY25, up 88 per cent year-on-year, with EBITDA of $9.9 million, and will continue to be led by CEO Adrian Przelozny and the existing management team, who retain a 30 per cent shareholding. IG Group managing director for Asia Pacific and the Middle East, Matt Macklin, said the deal builds on IG’s crypto growth in the UK and US, providing immediate access to regulated markets in Australia and Singapore while reinforcing the group’s long-term digital asset strategy.

3. Greenbox acquires EraseIT to expand ICT asset disposal and data sanitisation capabilities in Australia

Australasian e-waste manager Greenbox Group has acquired Melbourne-based ICT asset disposal and data sanitisation provider EraseIT from Interactive, reinforcing its Australian presence. Founded in 2009 and acquired by Interactive in 2018, EraseIT delivers services ranging from onsite decommissioning and asset tracking to certified data erasure and responsible disposal or remarketing. Greenbox CEO Ross Thompson said the acquisition creates an expanded footprint, stronger systems, and access to a wider network of clients across Australasia, while ensuring continuity for EraseIT’s customer base. Interactive CEO Alexandra Coates noted that the deal supports both organisations’ long-term strategies, with EraseIT gaining scale and investment under a specialist owner, and Interactive sharpening its focus on core offerings. The acquisition follows Greenbox’s 2024 purchase of New Zealand-based RemarkIT, further strengthening its regional leadership in sustainable IT asset management and circular economy solutions.

4. Xplor Technologies acquires EzyPay to strengthen embedded payments across Asia Pacific

Sydney-based fintech EzyPay will be acquired by Atlanta-headquartered Xplor Technologies in a deal that marks a new chapter for the payments processing group, almost three decades after it was founded by chairman George Holman. EzyPay CEO James Foster will continue to lead the company post-transaction, expected to complete in December, with the team joining Xplor’s Pay division. Founded in 1996, EzyPay has become a leading subscription and payments provider across Asia Pacific, with operations in 10 markets including Australia, New Zealand, Singapore and Malaysia. Xplor Pay president Matt Morrow said the acquisition strengthens the group’s ability to support SaaS platforms in the region with embedded payments and subscription management solutions, while positioning Xplor for further international growth.

5. Chainguard and DevOps1 team up to forge a new standard in DevSecOps

Chainguard and DevOps1 have entered a strategic partnership to forge a new standard in DevSecOps, embedding security by design from Day 1. The partnership will see DevOps1 leverage Chainguard’s continuously hardened container images to deliver a secure-by-default foundation for modern software development. Chainguard brings its portfolio of over 1,500 zero-CVE container images rebuilt daily with signed SBOMs, FIPS-compliant cryptography and minimal attack surfaces. Together, the two companies aim to help organisations accelerate secure software delivery, reduce vulnerability management overhead, and meet compliance requirements with confidence.

6. Fusion5 buys QLD-based NetSuite partner Applejack

Australasian systems integrator Fusion5 has announced the acquisition of Applejack, one of Australia’s longest-operating NetSuite partners. Applejack is a Queensland-based provider of NetSuite, Oracle’s leading Cloud ERP Business Management Software Suite. Applejack customers include Mountain Bikes Direct, Scape Student Living, and Salary Packaging Australia. Applejack officially became part of Fusion5 on 15 September 2025.

7. Hardie Grant acquires Keep Left in a deal a year in the making

Hardie Grant has acquired creative communications agency Keep Left in a deal that continues the publishing and media group’s steady accumulation of marketing heft. Keep Left will maintain its operational independence, leadership and staff as part of Hardie Grant Media alongside its existing specialist agencies, including Reload Media. Keep Left was founded in 2001 by Caroline Catterall, who later partnered with her colleague Gillian Gosling as they built the business. The pair remained the sole owners of the agency until the sale to Hardie Grant, which Catterall said had followed a measured timeline.

8. SGS Announces the Acquisition of Fulcrum Robotics in Australia

In September, SGS announced the acquisition of Fulcrum Robotics, an Australian specialist in aerial, marine and terrestrial drone-based inspection and robotic services for the industrial and environmental sectors. The acquisition strengthens SGS’s capabilities in Australia and is aligned with their Strategy 27 – Accelerating growth, building trust. Fulcrum’s team of 16 experts will now become part of SGS, further reinforcing the Group’s technical depth and local presence in Australia. This acquisition also enhances SGS’s ability to deliver innovative, technology-driven inspection solutions to clients across key industries.

9. Advent to acquire Australia’s Automic Group

Advent, a Boston based global private equity investor, announced that it has signed a definitive agreement to acquire Automic Group. Automic is a technology company delivering financial market infrastructure to serve the mission-critical needs of investors and issuers in Australia and New Zealand. The company provides insight-led services supporting over 1,400 companies and funds across Australia and New Zealand, with technology designed to be portable and scalable into new markets. Over the past 5 years, Automic has been the top performing share registry for IPOs and listed transitions in Australia. The transaction is expected to close by the end of 2025, subject to customary regulatory approvals.

10. Electrical Engineering Firm Middleton Group Joins Fyfe 

The integration of Middleton Group with Fyfe will continue to strengthen Fyfe’s position as an integrated professional services firm in Australia with over 720 people and will bolster the Melbourne and Sydney teams.  Middleton Group brings to Fyfe invaluable expertise in electrification, power generation, transmission and distribution. Together, their complementary strengths enable fully integrated solutions for complex infrastructure, energy, and industrial projects.

11. Procurement tech Felix Group acquires construction industry platform Nexvia for $12m

Nexvia, a Brisbane-based SaaS platform for construction-focused businesses, is being acquired by cloud-based procurement platform Felix Group Holdings (ASX:FLX) in a cash and share deal worth $12 million. Nexvia delivers annual recurring revenue of $3.3 million which has grown organically at a 25 per cent compound annual rate since FY22. This would have given Felix a pro forma annual recurring revenue in FY25 of $11.9 million. Felix, which sees Nexvia as “highly complementary” to its enterprise procurement platform, plans to fund the acquisition through a $17 million capital raising which has been backed by global investment manager Briarwood Chase Management. The binding conditional agreement to acquire Nexvia comprises $6 million in cash, $3.6 million in Felix shares and $2.4 million in performance rights linked to FY26 subscription revenue growth targets.

12. Access Group adds another Aussie software company to the basket with acquisition of ATO SmartDocs

UK-based business management software provider The Access Group is consolidating its technology holdings in Australia with the acquisition of ATO SmartDocs, a Melbourne company that automates document processing with the tax office for accounting firms. Founded in 2015, ATO SmartDocs currently processes more than 1.5 million documents annually, and claims to achieve 95 per cent efficiency compared to manual processing across the full range of 600 Australian Taxation Office document types. Baker says ATO SmartDocs will continue to maintain its existing integrations with third-party practice management systems, with the new owners “committed to supporting open APIs and data portability standards”.

13. Entag Acquires Proactive Technology Solutions

Entag Holdings has acquired Proactive Technology Solutions (PTS) in a deal that expands the technology services group’s capabilities into modern physical security solutions. PTS will maintain its operational independence, leadership and staff as part of Entag, complementing its existing portfolio of ICT and managed service offerings. PTS was founded by Aaron Morris, who built the business into a specialist provider of cloud-based security solutions. He will continue with the company in a leadership role, bringing over 15 years’ experience in cloud-based security solutions, further strengthening Entag’s integrated technology offering.

14. Skutopia raises $38 million to roll out more robot warehouses

Australian logistics startup Skutopia, which uses automation to streamline e-commerce deliveries, has closed a $38 million raise led by private equity firm Pemba Capital and hits a $100 million valuation. The raise also drew backing from MA Financial and Blackpeak Growth Partners and is largely structured as equity with a portion of debt. It follows roughly $12 million in earlier funding rounds, including $2.75 million raised in 2021. The fresh capital will support the rollout of additional facilities in Australia and an entry into the US market. Within three years, Skutopia is aiming to provide same-day delivery to 90% of Australian households.

15. Sydney-founded Click Management to be acquired by GameSquare for $12.8 million

GameSquare Holdings, a Texas-based media and technology group that connects brands with Gen Z, Gen Alpha, and Millennial audiences, has reached an agreement to acquire Sydney-founded talent management firm Click Management for US$8.5 million ($12.75 million) plus earn-outs. Founded in 2017 by Grace Watkins, Elliott Watkins and Emma Barnes, Click has built a global presence representing creators and digital influencers, partnering with brands including McDonald’s, Optus, Maybelline and more, closing more than 545 commercial deals worldwide last year. With an annual revenue of US$12.4 million ($18.6 million), GameSquare expects Click to contribute US$14.5 million ($21.76 million) of annualised pro-forma revenue in the second half of calendar 2025, and approximately US$1.2 million ($1.8 million) of annualised pro-forma EBITDA.

16. Elite Print Solutions explores new services streams and industries through CompuMenn Group (CMGSS) acquisition.

Elite Print Solutions (EPS) Group has acquired CompuMenn Group (CMGSS) in a deal that expands its workforce, service capability and geographic reach across Australia and New Zealand. EPS has retained CMGSS’s 200-plus staff, including 80 technical specialists and more than 120 on-site support personnel, as well as seven logistics centres strategically located across both countries. The acquisition strengthens EPS’s position as a national IT services provider, enhancing its ability to deliver consistent coverage in metro, regional and remote areas, and creating new opportunities in New Zealand. EPS CEO Kishen Nagarajah said the deal advances the company’s strategy of moving into integrated service delivery, managed services and XaaS, underpinned by sustainable recurring revenue streams. EPS also plans to embed AI-powered tools such as predictive maintenance, service desk automation and intelligent scheduling into its offerings, positioning the company as an innovative partner in the evolving IT services market.