M&A blog May: IT Services, Defence, Cybersecurity and B2B Tech

2. LTM to buy Randstad’s technology consulting business in Australian and Europe

Indian IT services group LTM is seeking to acquire the technology and consulting services business of global staffing giant Randstad in Australia and parts of Europe in a deal worth €160 million. Headquartered in Mumbai, LTM – rebranded from LTIMindtree earlier this year – sits behind the absolute Indian tech giants in Tata Consultancy Services, Infosys, Wipro, and HCLTech – but nevertheless generates over $4.5 billion in annual revenues with a headcount of 85,000-plus. While the firm also has a limited presence in Australia compared to its Indian cousins, that could be about to change with the €160 million offer to buy Randstad’s local technology & consulting business, along with that in France, Germany, Belgium, and Luxembourg. Randstad is among the largest staffing, recruitment and temporary work groups in Australia, but the scale of its local technology & consulting practice is unknown. Likewise murky is LTM’s current employee count in its Melbourne and Sydney offices. LTM said that the aim of the acquisition, which includes a five-year ‘360-degress digital transformation and talent management exchange of capabilities, was to expand its presence in key sectors, including as to defence, utilities, and banking & financial services, which are among Australia’s biggest consulting cash-cows and an existing focus of LTM’s local operations. More specifically, the agreement would see LTM become the technology partner for Randstad’s Global Capability Center in India to help accelerate its digital modernisation while the latter is made managed talent service provider for LTM’s expanding global workforce alongside the transfer of Randstad’s tech & consulting practice enabling both companies to focus on their core capabilities.

3. Evergreen’s Pine Services Group acquires Australian ERP consulting and implementation partner

Evergreen’s Pine Services Group has acquired Stratus Consulting Group, an Australian ERP consulting and implementation partner supporting mid-market organizations nationwide. The investment marks the official entry into Australia for Pine, a long-term global holding company within Evergreen Services Group, focused on partnering with ERP and technology-enabled services businesses. With Stratus joining the portfolio, Pine now spans the United States, Ireland, Scotland, England, and Australia. In line with Evergreen and Pine’s differentiated approach to long-term success, Pine will continue to support Stratus’ team, culture, and customer-first delivery model, while investing to accelerate growth and expand capabilities.  Stratus brings a mix of software and services, including MYOB Acumatica, Microsoft, and Epicor. The team also has a growing HubSpot practice, which will serve as Pine’s first step into CRM expertise. It’s team of over 60 includes developers, consultants, and support staff operates across offices in Melbourne, Sydney, Brisbane, and Perth, delivering end-to-end implementation and performance support.

4. First Focus expands Managed AI and IT Services capability in New Zealand with Optimus Systems acquisition

First Focus has acquired Optimus Systems, an Auckland-based managed IT services provider, strengthening its position in the New Zealand SMB market and advancing its ambition to lead the category for managed AI and IT services. The acquisition brings together First Focus’s scale, AI capability and managed services expertise with Optimus Systems’ strong New Zealand client relationships, local delivery capability and highly regarded team. It also further signals First Focus’s intent to lead the emerging category of managed AI and IT services in the New Zealand market, helping SMBs use technology, automation, AI and cyber security to drive productivity, resilience and measurable business outcomes. Optimus Systems is an Auckland-headquartered managed IT services provider with capability across managed IT, cyber security, compliance, cloud services and IT consultancy. With operations and staff across New Zealand, including Wellington, Christchurch and Dunedin, Optimus has built a strong reputation for trusted client relationships, strong technical capability and practical technology advice. Optimus is also certified to ISO 27001:2022, reflecting its commitment to robust information security management. Founder Marek Drummond will stay on to lead the shift to AI and automation-led services in New Zealand, while Travis Brunton, Optimus Systems’ current Operations Manager, will take on the role of General Manager for First Focus in New Zealand.

5. Interactive buys Australian managed cloud services business of Thales

Australian IT services and consulting firm Interactive has picked up the managed cloud services business from defence giant Thales, which is choosing to focus on its core cybersecurity offering. Thales bought local cybersecurity firm Tesserent in 2023 for around $185 million, adding a team of approximately 500 employees. Recently, the firm launched a Security Operations Centre (SOC) in Canberra focused on government and critical infrastructure clients. Now, the Paris-headquartered defence giant has opted to offload its local managed cloud services unit, with Interactive jumping in to bolster its own sovereign cloud offering and continue what has been a busy period since Alex Coates took over as CEO at the start of last year. Among other company developments, Interactive has in recent months launched a sovereign ‘Private Cloud’ platform designed to help organisations take control of their infrastructure, reduce costs, and enable AI innovation with confidence, and a ‘Power Assurance’ division within its IT hardware maintenance practice to better support continuity for power-critical infrastructure.

6. Ilaria acquires Concentrate to tap into HubSpot services

HubSpot partner Concentrate has been acquired by Sydney-based managed service provider (MSP) Ilaria to expand its advisory services. Ilaria was founded in 2025 with offices across Australia and New Zealand and offers digital transformation, automation, and AI services. Meanwhile, Concentrate formed in 2004 and describes itself as a “revenue growth agency”, providing services around HubSpot’s customer relationship management (CRM) platform. In a statement, Concentrate said the acquisition will support Ilaria’s provision of end-to-end digital solutions and enable it to offer HubSpot services to a larger market. Under the new ownership, the agency’s founders, Greg Williams and Owen Scott, will continue leading Concentrate’s team.

7. Coras Solutions acquired as Canadian nuclear expert expands local presence

Australian-based defence consultancy Coras Solutions has officially been acquired by Canadian-based nuclear submarine and defence specialist AtkinsRéalis. The acquisition, which remains subject to regulatory approvals and customary closing conditions, will see the global engineering powerhouse absorb the 70-person consultancy known for its work advising Australian Defence and national security agencies on complex capability programs. The move forms part of AtkinsRéalis’ broader strategy to expand across Australia, the Middle East and Africa (AMEA), with defence emerging as a major growth market amid increasing strategic competition and rising military investment across the Indo-Pacific. Founded in 2015, Coras has established itself as a respected adviser to Defence and national security organisations, providing expertise across capability planning, acquisition, governance and sustainment. The employee-owned consultancy was founded by former military and government professionals with deep experience in Defence and national security, giving it strong insight into the challenges associated with developing and delivering Australian military capability. Coras provides advisory services across the full Defence capability life cycle, including engineering and asset management, procurement and commercial advisory, program governance and assurance, and broader strategic advisory services.

8. Banyan Software Welcomes .id (Informed Decisions), Australia’s Leading Spatial Intelligence Platform

Banyan Software, an acquirer and long-term operator of mission-critical software businesses, is pleased to announce the acquisition of .id (Informed Decisions), Australia’s leading provider of demographic data, spatial intelligence, and forecasting tools for government and enterprise. Headquartered in Melbourne, .id was founded with a clear mission: to make demographic and economic data accessible, meaningful, and actionable for the people and organizations shaping Australian communities. Since its founding over twenty years ago, .id has grown from a specialist demographic consultancy into Australia’s most trusted platform for community data, population forecasting, and spatial intelligence. The company’s tools and insights are embedded in the planning, policy, and investment decisions of local governments, state agencies, and an expanding base of enterprise clients across Australia. Today, .id serves over 300 government and enterprise clients with a suite of integrated data platforms spanning community demographics, population forecasting, economic profiling, and housing and infrastructure analysis. Its tools convert complex national datasets into localized, decision-ready insights for councils, governments, and enterprise clients. Under Banyan’s ownership, .id will continue to operate as an independent business with its own identity, team, and customer relationships, now backed by a permanent capital partner with the resources and commitment to support continued product development, platform modernization, and market growth.

9. Svitla Systems Acquires Australia’s Kiandra IT to Expand Global Engineering Footprint and Accelerate AI-Driven Delivery

Svitla Systems, a global software engineering and digital solutions company, today announced the acquisition of Kiandra IT, an Australia-based software engineering firm with more than 30 years of experience delivering solutions for highly regulated and mission-critical industries. The acquisition marks Svitla Systems’ formal entry into the Australian market and expands its global delivery capabilities across North America and Asia-Pacific. By combining Svitla’s international scale with Kiandra IT’s deep regional expertise, the company aims to accelerate delivery of AI-enabled, low-code, and enterprise software solutions for clients worldwide. Kiandra IT employs a team of 45 professionals across Australia and is recognized for its expertise in Microsoft .NET technologies, AI accelerated software development, and its partnership with OutSystems, a leading enterprise AI low-code platform. The company was recently named OutSystems Partner of the Year for New ARR Growth. The acquisition strengthens Svitla’s capabilities in key areas including AI low-code and code-gen application development, Microsoft-based enterprise systems, and project-based delivery for regulated industries such as healthcare, financial services, and government. It also enables a two-way growth strategy: expanding Kiandra IT’s specialized capabilities into the U.S. market while providing its clients access to Svitla’s global delivery network and broader technology offerings.

10. Braiin acquires ICT contractor and tech consulting firm Nisus Australia

Nisus Australia, a Canberra-based ICT contractor and technology consulting firm working with government agencies and local tech businesses, has been acquired by WA-headquartered Braiin. Braiin is a global AI platform, operating across seven countries, and its recent NASDAQ listing saw it reach an approximate market capitalisation of US$1.6 billion (A$2.2 billion) as of last week. Nisus has been built within Canberra’s government ecosystem and has supported around 30 government and private organisations. The company has a team of over 40 staff, including ICT contractors supporting government and enterprise clients. Among the consulting services offered by Nisus are ICT governance and strategy advisory; IT procurement and tender evaluation; data analysis and data science; solution design and architecture; and cyber security services, including risk assessments, iRAP assessment, vulnerability management and incident response. Nisus will continue to operate as a standalone business under its existing brand in Australia, maintaining its current team and operating model, and there is no change to the leadership team or staff, with founder Sean Ni to continue to lead Nisus as CEO.

11. Canberra-based cybersecurity evaluation lab acquired by Applus+

Applus+, a global testing, inspection and certification company, has acquired Teron Labs, a Canberra based cybersecurity evaluation laboratory specialising in product security and cryptographic certifications. The acquisition aims to strengthen Applus+ Laboratories’ cybersecurity capabilities and supports the company’s objective of helping manufacturers worldwide achieve compliance with evolving cybersecurity requirements and facilitating secure market access across international schemes. Teron Labs is an Australian Information Security Evaluation Facility (AISEF), licensed by the Australian Information Security Evaluation Program (AISEP) to conduct Common Criteria (CC) evaluations. In addition, Teron Labs is NVLAP-accredited and recognized by the Cryptographic Module Validation Program (CMVP) to perform FIPS 140 cryptographic evaluations under the U.S. scheme, placing it among a limited number of laboratories worldwide with these combined capabilities. Following the acquisition, Teron Labs will operate as part of Applus+ Laboratories’ Division, and join a network of cybersecurity labs, which combines Applus+ inhouse capabilities with the integration of specialized laboratories acquired over time, including Lightship Security and jtsec. With this acquisition, Applus+ Laboratories now brings together more than 250 experts in product cybersecurity evaluation and certification.

12. Humanforce acquires Emprevo and ShiftMatch amid global expansion

The workforce management company has acquired two more Australian HR tech companies in an eight-figure deal. Sydney-based tech company Humanforce is making a play to become the dominant end-to-end operating system for frontline and flexible workers, adding two HR acquisitions — Emprevo and ShiftMatch — to its ranks as it accelerates its push into US and UK markets. The Accel-KKR-backed business brings together talent acquisition, payroll, HR and workforce management for employers in high-turnover sectors such as aged care, childcare, and hospitality — industries where compliance is complex and third-party labour is an operational requirement. The company serves 1,800 customers and is close to surpassing 1 million workers on its platform. The deals, collectively worth eight figures, mark Humanforce’s fifth and sixth local acquisitions, following its $77 million purchase of ASX-listed IntelliHR in 2023.