Government-focused IT services provider Civica has continued its acquisition spree in Australia by snapping up mobile software specialist AssetEdge for an undisclosed some.
Based in Melbourne and with offices in New South Wales and Queensland, AssetEdge develops asset management software-as-a-service web and mobile apps for local governments.
AssetEdge has 11 employees across the three bases who will become part of Civica's extended local government team.
While AssetEdge's products will retain their names, the company's branding will be eventually brought under the Civica name and identity.
The company’s key selling point its software-based system that provides recording and analysis of maintenance in areas from highways to children’s playgrounds.
The product is currently used by more than 130 local and state governments and highway authorities across New South Wales, Queensland and Tasmania.
AssetEdge also provides a natural disaster management system used by 90 local government areas and contractor surveillance system to oversee performance of more than 120 council managed service provider contracts.
According to Civica, the deal will bolster its local government customer base to more than 350 organisations.
“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,” said Ben Cowling, Civica A/NZ COO and managing director of local government.
AssetEdge owner Brendon Stevens said that the deal would allow the company to grow at a scale impossible for a standalone company.
“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,” he added.
Civica, which is the A/NZ subsidiary of the UK-based Civica Group, first signalled its expansion plans in November 2017 by recruiting PricewaterhouseCoopers (PwC) executive Ian West to head up its M&A division from Brisbane.
The move followed the Group’s own recent acquisition by investment management firm, Partner Group, in a deal worth $1.64 billion.
Last year, the A/NZ arm made its first major acquisition with the purchase of Victoria-based Icon Global Solutions, which trades as Carelink.
In the past two years, the company has inked major local government contract wins with Victoria’s Department of Justice and Regulation and scooped a 10-year deal with South Australia’s Department of Education.