NZ ‘technology-for-good’ Company, Ackama Acquires Australian Counterpart Common Code

Rising ‘technology-for-good’ company Ackama, have today announced the acquisition of Melbourne-based bespoke software company, Common Code for $2.7 million, made up of a combination of cash and shares.

The acquisition aims to expand Ackama’s Australian footprint as it brings the two socially-driven companies together, and paves the way for increased growth in a booming Australian tech sector.

The deal will lift Ackama’s revenue to over NZD $12 million, with approximately 75% of its revenue generated through exporting its services, as well as a staff increase of 90% across Australia and New-Zealand.

Both companies have expressed the merger as an exciting opportunity for growth, citing parallel strengths of market-place maturity, digital expertise, staff culture, as well as a shared ethos of tech-for-good.

“We have a huge respect for Common Code’s track record, and we are really enthusiastic to start a new chapter of our story with such a like-minded team,’ says Breccan McLeod Lundy, CEO and co-founder of Ackama.

“The merger means a step up in capability across product management, UX and development practices and means we can offer our clients more at the top end of tech development and bring best practices to every facet of what we do, while staying agile, relevant and value-focused.”

Common Code was founded in 2010 in Melbourne by developer Daryl Anthony, and has since grown to a 25 people tech consultancy, specialising in e-commerce, user interface and user experience design, development of python open-source programming expertise, training and consulting for social good initiatives. They are one of the few tech companies to boast a 45% representation of women in tech and leadership roles, with a gender pay gap of nil (<1%).

Common Code founder Daryl Anthony says, “This move represents a value partnership that is greater than either could create on their own. As founder of Common Code I’m proud of the role we’ve played over the last decade and am excited for the role we’ll play in the future with Ackama.”

Clients across the two companies include: The Good Sports programme for the Alcohol and Drug Foundation, the National Youth Mental Health Foundation, The Victorian Women’s Trust, Victoria’s State Library, Victoria’s Public Sector Commission, New-Zealand’s sign language directory, Mentorloop, Ethical Jobs and Good On You, and the Australian and New Zealand Government.

Ackama acquired Common Code wholly, with a mix of cash and shares, at approximately three to four times the EBIT-multiple. The Common Code brand will continue to operate for the foreseeable future, and there are no immediate plans to change the teams’ structures. Both management teams remain in place.

Ackama accelerated its growth path in a similar fashion in 2018 when it acquired the web development agency Squareweave, the digital team of Plot Media and an artificial intelligence and chatbot company, Prefer.

Ackama’s Founder and CEO Breccan McLeod-Lundy founded the company in 2010 in Wellington, New-Zealand, establishing himself as an independent contractor and web developer, and operating under the brand Rabid Technologies. He was quickly joined in his venture by current Ackama Director Josh Forde.

Ackama, now established in its niche of ‘using technology for social good initiatives’, has aggressive growth and hiring plans for APAC, expecting a double of staff over the next year, as it capitalises on recent years’ momentum. For more information about Ackama projects or career opportunities, please visit: www.ackama.com

About Ackama

Ackama is an accredited supplier to the Australian and New Zealand Governments and is registered on a number of procurement panels. As long-time specialists in cloud platforms, open-source software and end-user design, Ackama has an established record of delivering significant platform changes and enabling agencies to thrive in complex digital environments. Delivering better services to citizens and efficiency to governments, Ackama contributes to improving social outcomes and enhancing organisational performance.

https://www.ackama.com

© Scoop Media