Theta Systems’ acquisition of Prophesy, a Microsoft business intelligence company, has achieved two strategic goals for the company in one hit, says chief executive Rob Lee. It has brought expansion as well as geographic diversification into Wellington.
Theta was founded in 1995 as a software services company and IT consultancy. “It became obvious two years ago that we had two businesses: software and business intelligence,” Lee says.
The company has also acquired Divizo, an Auckland company specialising in data warehouse and business intelligence solutions for small to medium-sized ERP systems.
Prophesy founder Ron Hawthorne is now central region manager for Theta, which has refreshed its brands as Theta BI and Theta Software. It has moved into new premises in Wellington.
“It’s always an issue of critical mass in New Zealand,” Lee says. “It’s easy to be overlooked if you’re too small, so two years ago our objective became to expand to acquisition.