New Zealand billing and revenue software provider Talgentra has been acquired by a consortium of private equity firm ANZ Capital and global energy metering specialist the Bayard Group.
Talgentra has more than 90 customers locally and worldwide in the utilities sector.
In a statement from Talgentra, the company’s CEO, James Docking, is quoted as saying “With the recent spate of acquisitions in the software market, we had to consider what was best for our business, in particular what ownership options could support the growth of our flagship solutions Gentrack, mDATA21, Airport 20/20 and ServicePoint.
“We wanted to avoid a competitor buyout. … An ANZ Capital and Bayard Group partnership provides the cornerstone stability required to further develop our own solutions and enhance our business.”
Talgentra’s customers include Vector and Genesis Energy in New Zealand, Red Energy in Australia and MxEnergy in the US.
In addition to the buyout of Talgentra, there may be more merger and acquisition activity in the IT sector on the horizon. An advertisement in placed in today’s Business Herald by Jigsaw Business Solutions is headed “Time to sell your IT business?”. The ad notes that “our client is a leading IT services provider, based in Auckland, who is looking to acquire another well-established IT provider”.
The ad specifies that the to-be-acquired firm must employ 10-15 staff, be active in the health, eduction and professional services sectors and be Microsoft/Intel product-based, among other requirements.