Access Group has announced the acquisition of Attaché, an Australian-based financial management and payroll software supplier.
The move marks the first wholly overseas software business acquired by UK-based Access Group, who says it establishes its intent to take its Access Workspace solutions beyond its home market in the UK and onto the global stage. Attaché has more than 30 years' experience providing software to Australasian mid-market businesses. Attaché serves more than 2,800 customers based in Australia, New Zealand and the Pacific Islands.
Access is one of the fastest growing UK-based tech business and in its recently announced results for the year ended 30th June 2019, the company posted more than 40% growth in both revenues and EBITDA for this period. Access Group's record of uninterrupted profitable growth now stands at eleven straight years.
Having already established a small foothold in the Asia-Pacific region through recent acquisitions, this was a logical next step for the business, it said.
"The Australasian market is seen as an excellent place to support Access in delivering its next stage of growth, with the Australian market's spend on software expected to grow from $16Bn in 2019 to in excess of $21Bn by 2022," says Chris Bayne, CEO, The Access Group.
"With Access focused on delivering a fully connected mid-market business solution suite, on the Access Workspace platform, there is real potential to tap into a significant share of this market growth," he says.
“Access is excited to welcome Attaché into the Access Group. The addition of Attaché establishes a significant foundation for us to launch into the Australasian marketplace and commences the process of extending Access's success in the mid-market business software sector beyond our home base in the UK," Bayne says.
"With around 100,000 businesses falling into the local mid-market sector, providing a third of all revenue and jobs, the potential for Access Workspace is huge. We look forward to deepening our relationship with Attaché's customers and further supporting them with the broad array of solutions available through Access Workspace in the coming months and years," he explains.
Mike Rich, MD and co-founder of Attaché, adds, “As one of the fastest growing technology providers in the UK, we are confident that Access is the right company to help build on all we have achieved so far with Attaché.
"Access shares our passion for delivering excellent solutions and service to our clients and combined we will have the strongest suite of tools for mid-market businesses in the region," he says.
Bayne says Access remains focused on continuing its top and bottom line growth for a twelfth consecutive year and the newly established presence in the Australasian market will provide significant opportunity to do just that.