Jon McPhee, Mike Weale and Shane Hewson.
Kiwi software testing and assurance powerhouse Qual IT has been bought by Australia's Planit Software Testing, in turn now part of Japanese giant Nomura.
The combined Planit and Qual IT will create the largest independent IT testing company in New Zealand and Australia, and the third largest globally, Planit said in a statement.
Qual IT’s partner cyber security company, SEQA, has also been acquired as part of the deal.
Planit’s Kiwi raid is part of its 2030 growth strategy to accelerate and enhance its global presence to become number one in IT quality assurance and quality engineering.
Planit now employs around 1600 employees and has offices across Australia, New Zealand, Philippines, India and the United Kingdom.
“Prior to COVID, the world was undergoing rapid digitalisation, but over the last two years we have seen that pace quicken exponentially as digital transformation becomes the number one priority for corporations around the world,” said Mike Weale, CEO of Planit.
The need for efficiency of application testing and automation in digital transformation initiatives was, therefore, greater than ever.
“We want to provide certainty, quality, innovation and efficiency to organisations collaboratively as part of this rapid shift to digital, Weale said.
“Welcoming Qual IT to the Planit group will enable us, as a combined entity, to leverage each other’s expertise, deepen capability, and broaden our reach to provide enhanced opportunities for our clients and employees."
Qual IT, which was established in 2004, will continue to operate under its brand, with founders Shane Hewson and Jon McPhee continuing to lead its operations. Similarly, Mark Keegan will continue to lead SEQA and its teams.
“This is an incredible milestone for Qual IT and SEQA and will launch the next stage of growth,” said Hewson and McPhee. “Joining a global company is a huge and exciting opportunity for our employees and clients. This is about launching to a bright future and partnering to form a stronger group.”
Planit entered the New Zealand market in 2009 and has grown quickly to report $34.4 million in local revenue for the year to 30 June 2021, down from $38 million in 2020. Net profit of $5.3 million was down from $6.4 million over the same periods.
Planit said its global business plus Qual IT made $250 million in revenue, while projected revenue of the combined entities in the NZ market was $75 million in 2022.
Last year, Qual IT bought a chunk of Christchurch-based project management and training firm Millpond to deliver greater certainty for IT projects. Millpond provides specialised project management and training for organisations undertaking digital transformation.
The price paid was not disclosed.
