Planit, an engineering and application testing services firm, announced its acquisition of Qual IT, a New Zealand based IT quality assurance firm. Planit is owned by Nomura Research Institute (NRI) Australia, part of NRI Global, a member of the Nomura Group. Based in Tokyo, Japan. NRI Global employs 13,500 people and has a market capitalisation of $15.7bn.
What does Qual IT acquisition mean to Planit?
The combined entity of Planit and Qual IT will create the largest independent IT testing firm in ANZ, and the third largest globally. Qual IT’s partner company, cyber security company, SEQA has also been acquired as part of the transaction- with plans for growth in this sector.
Planit’s acquisition in New Zealand is part of its 2030 growth strategy – accelerating to enhance its global presence to reach the global one position in IT quality assurance and quality engineering. The UK, Japan and the US are also areas of growth. Planit currently employs around 1600 employees and has offices across ANZ, Philippines, India and the UK.
“Prior to Covid, the world was undergoing rapid digitalisation, but over the last two years we have seen that pace quicken exponentially as digital transformation becomes the number one priority for corporations globally. The need is greater now, than ever before, for efficiency of application testing and automation in digital transformation initiatives to meet demand for faster, more user friendly, secure and accurate IT systems,” says Mike Weale, CEO of Planit.
“We want to provide certainty, quality, innovation and efficiency to organisations collaboratively as part of this rapid shift to digital. Welcoming Qual IT to the Planit group will enable us, as a combined entity, to leverage each other’s expertise, deepen capability, and broaden our reach to provide enhanced opportunities for our clients and employees.”
“Through each other’s strengths, Planit and Qual IT will help solve IT challenges to co-create value and contribute to a sustainable and safe society,” Weale further commented.
What does the transaction mean to Qual IT and SEQA?
Under the acquisition, Qual IT, which was established in 2004, will continue to operate independently under its brand, with the founders Shane Hewson and Jon McPhee continuing to lead the Qual IT operations. Mark Keegan will continue to lead SEQA and its teams.
Commenting on the acquisition, Shane Hewson and John McPhee, founding partners of Qual IT said, “This is an incredible milestone for Qual IT and SEQA and will launch the next stage of growth. Joining a global company is a huge and exciting opportunity for our employees and clients. This is about launching to a bright future and partnering to form a stronger group.”
Qual IT joins Planit locally in New Zealand and globally into the wider business footprint across Australia, India, the United Kingdom and the Philippines. The acquisition figure is confidential.