Stalwart government and regulated industries software and services vendor Civica has snapped-up Victoria-based local government operations and asset management apps developer Asset Edge.
The private trade sale is expected to be officially announced today as parent company Civica Group continues on its combined acquisitive and organic growth strategy following a private equity buyout in 2017.
While the value of Civica’s purchase has not been disclosed, the acquisition has put a spotlight on Victoria’s blossoming specialist apps sector that has quietly been building scale alongside NSW and Queensland.
Asset Edge, which makes core operations apps for councils – including asset maintenance, contractor surveillance and natural disaster management platforms – certainly has local reach, with around 130 councils and state government organisations using its systems.
“The acquisition of Asset Edge is a key component of our portfolio approach to the local government marketplace, and in response to the increasing momentum and customer adoption for cloud products.
“With recent acquisitions both in Australia and in the UK, we have seen our customer base in Local Government in ANZ expand significantly in the last year to over 350 organisations,” said Ben Cowling, managing director, Civica local government and chief operating officer of Civica ANZ.
“We continue to strengthen our position as the leading partner for the sector through product investment and acquisition,” Cowling said.
Asset Edge’s owners are liking the prospect of scaling-up further.
The size and scale of Civica both here and globally gives us an excellent platform to grow our business in a way that wouldn’t have been possible as a stand-alone company,” said Brendon Stevens, Asset Edge’s owner.
“The entire Asset Edge team look forward to working with the Civica Group on our exciting plans for the future in providing all current and new customers with leading mobile solutions and levels of service that are needed to manage assets in any type and scale of an organisation.