Avetta broadens supply chain risk management services into Australia
U.S.-based supply chain risk management software provider, Avetta, has completed its acquisition of Australia-based Pegasus.
Located in Newcastle, NSW, Pegasus delivers worker competency management software and services.
In a media statement, Avetta said that the acquisition has passed regulatory approval and is completed.
In line with Avetta’s global growth strategy, the combination creates the world’s largest provider of supply chain risk management and compliance solutions, with 150,000+ suppliers and over 4 million managed workers.
Avetta CEO and President, Arshad Matin, welcomed the Pegasus employees and customers to the Avetta team.
“We look forward to combining our efforts in both supply chain risk and worker management to significantly grow our business throughout the world and delight our customers with solutions that best manage workers, improve safety and increase sustainability,” Matin said.
The Pegasus offices will become the base of operations for Avetta in Australia and New Zealand.
Pegasus CEO, Adam Boyle, will lead the Avetta team toward further expansion in the ANZ market. He and current Pegasus investor, Accel-KKR, are equity investors in the Utah-based tech firm.
“The history and success of Pegasus is a testament to the strength of innovation, not just in major cities but also in regional areas like Newcastle. It’s proof that the right idea can come from anywhere,” said Hon Stuart Ayres MP, NSW Minister for Jobs, Investment, Tourism and Western Sydney.
“We have an incredible depth of talent in NSW, however we need to continue to foster, cultivate and grow this pipeline to ensure our industry thrives. Businesses such as Pegasus are at the forefront of nurturing this talent, and the acquisition by Avetta represents an excellent opportunity to build on its success,” Hon Ayres said.
With Pegasus technology, Avetta said it offers market leading worker competency management, induction and learning management, supplier prequalification, site access and asset management to its solutions.
“The greatest benefit of Pegasus has been the personalised service, efficient team and holistic approach to our workforce management,” said Talan Breaden, Manager – People & Safety at Aeris Resources.
He continued the the solution gave them the visibility and control to effectively manage their contractor compliance, workforce training and site access.
“We have found that by using the Pegasus System the ability for our business to monitor competence of both individuals and businesses has improved dramatically and at the same time gives us assurance that we only hire those that meet our safety standards,” added Chris Taylor, Head of Safety and Wellbeing at Hilton Foods.
Avetta’s technology platform, Avetta Connect, helps companies worldwide manage risk and build resilience in their supply chains – from increasing visibility within the network to ensuring safety and sustainability.
The American company is majority-owned by Welsh, Carson, Anderson & Stowe with key investments from Technology Crossover Ventures, and Norwest Venture Partners.