Avetta®, the leading provider of supply chain risk management software, announced today the acquisition of Australia-based Pegasus has passed regulatory approval and is now completed. Based in Newcastle, NSW, Australia, Pegasus is a leader in worker competency management software and services.
The combination accelerates Avetta’s global growth strategy and creates the largest provider of supply chain risk management and compliance solutions with 150,000+ suppliers and over 4 million managed workers.
“We welcome the Pegasus employees and customers to the Avetta team,” said Arshad Matin, Avetta CEO and President. “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.”
As previously announced, 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 Australia-New Zealand (ANZ) market. Boyle and current Pegasus investor, Accel-KKR, are now equity investors in Avetta.
“NSW has a long history of technology success and leading the charge in the digitisation of businesses across Australia,” said the Hon. Stuart Ayres MP, NSW Minister for Jobs, Investment, Tourism and Western Sydney. “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.”
“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.”
With Pegasus technology, Avetta 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. “Pegasus gives us the visibility and control to effectively manage our contractor compliance, workforce training and site access.”
Chris Taylor, Head of Safety and Wellbeing at Hilton Foods added, “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.”
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 Avetta Marketplace provides suppliers and contractors deep discounts on insurance and safety-related products and services. The company is majority-owned by Welsh, Carson, Anderson & Stowe with key investments from Technology Crossover Ventures, and Norwest Venture Partners.