Open Office has been growing strongly and sees significant opportunities to increase the breadth and range of its offering to Government Customers.
Managing Director, Phillip Simone was looking to bring in a shareholder partner to provide access to growth capital and expertise to facilitate further investment in product to drive accelerated market penetration. Phillip chose Pemba because of their strong track record in the SaaS sector and deep experience in supporting organic and acquisitive growth strategies.
The Deal
Pemba, a leading investor in private businesses with a focus on growth partnerships, has invested in Open Office, Australia’s leading provider of high-function, integrated enterprise management systems to the Public Sector.
About Open Office
Founded in 1990, the company provides cutting edge software solutions for Local, State and Territory Governments, empowering them with integrated cloud enterprise solutions, covering all aspects of government functionality, including:
■ Licensing and Compliance Management
■ Service Management
■ Financial Management
■ Asset Management
■ Community Engagement
■ Mobile Workforce
Open Office is an innovative company in a market craving innovation. It services over 300 Government Organisations across Australia.
Background to Pemba Capital Partner’ s Investment
As a clear leader in the high growth Government Software market with a well-invested cloud-based platform, Open Office had received many approaches from sophisticated international
software investors. Phillip recognised the deep software experience an overseas investor could bring. While he was assessing options Philip was contacted by Pemba’s Origination team. During discussions he recognised in Pemba the same sophistication, experience and international reach but coming from a deep-pocketed partner with a strong local presence in Australia and New Zealand. Phillip found Pemba’s ‘home grown’ philosophy and approach to relationships fitted best for him and his team. After a brief negotiation Pemba was granted a period of exclusivity to conclude a transaction.
The Vendor’s Perspective
“Pemba’s belief in our strategic vision and culture created an ideal partnership for Open Office and our customers. Their local focus and strong understand of the Government Software market set them apart from other potential investors. Pemba injects significant expertise into our product development strategy and growing SaaS cloud businesses, delivering great benefit to our customers” Phillip Simone – Managing Director, Open Office
The Future
The market for local government software remains fragmented and many players have not transitioned to cloud-based SaaS offerings, which creates opportunities for a business-like Open
Office. Pemba will work in partnership with Phillip and his management team to grow Open Office both organically and through carefully selected acquisitions to meet the increasing demand for its services.
Pemba & Technology
Pemba is the leading investor into SMEs in the Australian and New Zealand technology sector, with investments in Placard (payments technology), HR3 (Payroll / HR software), JobReady
(SaaS solutions for Tertiary Education), Vital Software (Autotech data solutions), Revolution IT (Specialist IT services), Shelde (Cybersecurity services) and now Open Office in SaaS for
Government orgnanisations.
Pemba is looking to invest in further high-quality technology providers. If you are considering outside investment and would like to find out more about how Pemba partners with its
investee companies to achieve significant growth, please email opportunities@pemba.com.au.
