Update: Avetta announced July 19 that its acquisition of Australia-based Pegasus is now complete.
The original story from May appears below.
A software company establishing a second headquarters in Houston is expanding its international footprint.
Avetta, a provider of supply-chain risk-management-software, announced May 6 that it had agreed to acquire Pegasus, a Newcastle, Australia-based provider of worker competency management software and services. Pegasus' products are used by more than 100 hiring clients to manage 3.5 million workers employed by 70,000 different suppliers. The acquisition will grow Avetta's own platform, which connects customers and suppliers to decrease supply-chain risk, to more than 170,000 suppliers and 4 million managed workers globally.
"Together, Avetta and Pegasus will provide our clients the largest and most complete supply chain risk and worker competency management solution in the world," said Arshad Matin, president and CEO of Avetta. "The Australian government and businesses have led the way in monitoring contractor safety and compliance programs. We are excited to add this pioneering software innovator and take those insights and capabilities worldwide."
Following the acquisition, Pegasus will serve as Avetta's base of operations in Australia. Pegasus has additional offices in New Zealand and channel partners in Germany and the U.K. Adam Boyle, CEO at Pegasus, will join Avetta to lead the combined company's expansion efforts in Australia and New Zealand.
"Pegasus and Avetta both share a vision to ensure workforces are competent and safe, and risk is being managed, globally," Boyle said. "Our worker competency expertise complements Avetta’s world-class supply-chain risk-management product and will benefit our people, clients and contractors as they access an even greater international network in a single provider."
Boyle and Accel-KKR, a Pegasus investor, will become Avetta equity investors in connection with the acquisition.
Matin told the Houston Business Journal in April that expanding the company's network of suppliers and end customers was among the company's growth goals over the next few years.
Meanwhile, Avetta is working to open a second executive headquarters in Houston. Matin said he has lived in the Houston metro region for nearly three decades. The company, based in Orem, Utah, has around 50 employees working remotely out of the Bayou City region.
Avetta is working with a real estate broker to identify office spaces that meet its needs in the Houston metro region. The company aims to open an office in downtown Houston, the Galleria area or the Energy Corridor in west Houston.
Avetta also has a presence in Irvine, California, which houses a large number of the company's product development and software development roles. Avetta's headquarters site in Orem houses a variety of back-office functions as well as some members of the executive team.
