Tribal Group, a publicly UK-listed company, has acquired Victoria-based Sky Software, a provider of cloud-based education solutions to the tertiary and private education markets, for AU$21 million.
The acquisition will see Sky Software remain in Geelong, while it expands its global operations to Southeast Asia, Europe, South America, and the Middle East by leveraging Tribal's international footprint in the UK and Singapore.
Sky Software CEO and co-founder Nick Stanley said the acquisition is proof of the company's strength.
"We have the right skills, infrastructure, and people for an IT software company to compete and expand globally," he said.
"We continue to remain committed to Geelong and our global expansion with Tribal will allow us to continue creating and maintaining jobs in Victoria over the coming years."
When combined, Tribal and Sky Software will have over 500 customers in 60 countries and 1,400 staff members in 17 offices across five continents.
Tribal Group chief executive Keith Evans said the acquisition will help increase its speed to market for software and service developments, as well as strengthen its offers with greater in-market support, representation, and domain expertise.
"Our strategic priority is to provide our customers with evidence-based systems and solutions that will support the ongoing improvement of their educational outcomes," he said.
"Sky Software's products fit well with Tribal's product strategy as a cloud-based smaller education provider solution."
Some of Sky Software's existing customers include the New South Wales Department of Education and Communities, RMIT University, Manukau Institute of Technology, Waiariki Institute of Technology, University of Canterbury, University of Sydney, University of Queensland, and Otago University.