It’s been quite a month for WA tech company takeovers and exits, with news of the acquisitions of Solv, Agworld and now Definitiv.
Definitiv announced last week that it has been wholly acquired by The Access Group, who are based in the Asia Pacific region. They are buying out 100% of the shares including Singapore-based investor Boardroom, who put in $1M in 2018.
The precise amount was not revealed, although the Singapore Business Times reported the deal was worth around $7 million.
The West Perth based HR tech company started in 2013 and officially launched its cloud and mobile based people management software in October 2016.
Since the company launched its platform, Definitiv grew rapidly with 350 client companies across 27 industries, supporting 50,000 employees and processing $2.5 billion in payments annually.
The Definitiv management team, led by CEO Roy Mellon, will continue to lead the Definitiv business under the Access umbrella.
“We are excited to join the Access family. The experience, investment and resources Access brings to the table will help us achieve our geographic expansion plans for the Asia Pacific region.”
Roy Mellon, Definitv
“With the support and backing of Access, we will have more resources to fast track the delivery of new sought after features and enhancements as well as have added capability to better support our customers and expanded network.”
Kerry Agiasotis, President of The Access Group in Asia Pacific will oversee the operations regionally.
“We are excited to be welcoming Definitiv’s employees, customers and partners to The Access Group. This acquisition marks the fourth for the company in the last 2 years and demonstrates The Access Group’s intent for being recognised as a leading software provider across the Asia Pacific Region.
“Definitiv has great talent, technology and a rapidly growing customer base. Medium to large organisations in the Asia Pacific region face increasing complexity around payroll and workforce management. This acquisition will allow us to support them with a simple, built for purpose, scalable award-based and rostering solution.”
Definitiv’s products will continue alongside Access’ flagship Financial Management Systems and Payroll solutions, People HR, and Digital Learning, rounding out the company’s offering in the people and payroll space.
