March 20, 2014 Comments Off on Sky Software acquisition highlights Australia’s booming tech sector
Sky Software acquisition highlights Australia’s booming tech sector
Once again, Australia has proven itself to be a fertile landscape for tech investments. In 2013, Australia closed 117 successful internet-tech deals, the third largest number of deals globally.
Since the start of this year, more than twenty Australian tech companies have been bought by local and international firms. Last week, Sky Software, a Geelong-based provider of cloud-based student management systems to education markets, was acquired for AUD$21 million by London-based Tribal Group PLC. Tribal is a leading provider of technology solutions to international education, training and learning markets. Leveraging on Sky Software’s presence and experience in the Asia Pacific, Tribal plans to expand its services in the region. As a combined entity, Sky Software and Tribal will have more than 500 customers in 60 countries and 17 offices across five continents. Sky Software’s deal is another point of proof that cross-border acquisitions are an increasing reality in Australia. Sky Software was advised by Right Click Capital, the publisher of Internet Dealbook.
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