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ACCC clears Optus to scrap HFC network and use NBN instead
The ACCC has cleared, provisionally, the proposed deal between Optus and NBN Co under which Optus is to be paid around $800m to shut down its HFC network and transfer customers onto the NBN. read moreCoordimax acquires Pinnacle to continue a great Australian software success story
Friday, 14 November 2008 13:42
Coordimax, the Australian-owned and operated provider of leading integrated CRM, Document Management and Help Desk tools, has acquired asset, lease and property management software company Pinnacle Pty Ltd, in a strategic move to expand the Coordimax solutions portfolio and grow its local and international customer base.
In a deal that is expected to increase Coordimax’s revenue by many millions, the purchase of the 20-year old fellow Australian software company is part of a strategic plan to diversify Coordimax’s software business solutions and operating systems, and fast track its push into overseas markets including Hong Kong, Malaysia and the UK.
“Pinnacle is widely regarded as a leader in the asset and lease management software market and boasts an impressive register of over 200 customers spanning the education, finance, healthcare, hospitality, government, mining and manufacturing, tourism, transport, utilities and telecommunications sectors. This includes organisations like Coles, which processes thousands of work orders each day using Pinnacle software to manage around 2,500 stores and their assets, as well as Qantas and Multiplex,” said Martin O’Connor, Managing Director, Coordimax.
“The current climate of merger and acquisitions is creating stronger demand for asset management. Combining our expertise with Pinnacle’s vast experience will place us in an even better position to leverage these emerging market opportunities, both in Australia and offshore.”
Pinnacle’s healthcare and hospitality experience will enable Coordimax to increase activity around its existing Coordimax for Hospitality and Coordimax for Healthcare solutions, while the acquisition will also enable the company to explore new areas for business growth in carbon footprint management.
Already, Coordimax has diversified its skill set by becoming a Microsoft specialist and has extended its valuable network of partners both Australia wide and internationally.
Neil Detering joins Coordimax
Following the purchase of Pinnacle, Coordimax has appointed Neil Detering as a Director and Board Member. He will be responsible for overseeing the integration of Pinnacle and Coordimax and for managing day-to-day operations of the Pinnacle business during the integration process.
An Australian software industry veteran, Neil has been involved in the software development business for the last 20 years and has extensive experience in developing and commercialising successful products for the finance industry.
In 1993 Neil was one of the founders of IRESS Market Technology Limited, which went on to list on the Australian Stock Exchange (ASX) and grew into Australia's largest home-grown software company. IRESS software dominates the share trading market.
Neil performed a variety of roles at IRESS including Chief Operating Officer (COO) and Company Secretary until he left the company in 2006.
Neil is a highly experienced COO, familiar with all aspects of company operations, product development and corporate strategy.
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