Novigi expands footprint with acquisition of managed services rival

Leading IT services provider for the financial services sector, Novigi, has expanded its managed services footprint in Australia, announcing the acquisition of Brisbane-based IT provider, 360 Managed.

360 Managed is a technology support and strategy firm, specialising in the financial services space, with services supporting technology compliance, communications services, cloud, cybersecurity, and digital enablement. Its clients included Australian Food Super and FutureSuper.

Novigi, which counts a number of big-name clients in the superannuation, wealth and banking industries, said the acquisition of the allied business would expand its capabilities in technical managed services, “a key line of business amid the increasing regulatory and security demands faced by regulated industry participants”.

The acquisition of 360 Managed, according to Novigi, “significantly [enhances] our managed services for front office technology in the trustee domain.”

“Bringing 360 Managed on board not only uplifts our managed services offerings to better meet the evolving needs and requirements of regulated entities, but also reinforces our position as the leading data and technology partner in Australia’s superannuation and wealth management sectors, ensuring sustained and stable growth,” Novigi chief executive Ash Priest said in a statement.

Tim Coupland, director at 360 Managed added that the company was “excited to join Novigi, a business closely aligned with our values and proposition”.

“This is a significant milestone for our team, allowing us to enhance our managed service offering at scale, delivering greater value to both our clients and our people.”

The acquisition of the 360 business is a key element of Novigi’s growth strategy in what has been a “pivotal year” for the company, it said, and follows the acquisition of fellow tech consultancy and services provider QMV Solutions in February this year.

Priest said the company’s “ambitious goal” is to become a $100 million business.

“[This] requires us to build momentum in our distribution model, generate demand in new segments, and strengthen our existing pipeline.”