M&A activity continues as Fusion5 and Myriad join forces

Published on the 21/02/2017 | Written by Donovan Jackson

Fusion5 merger with Myriad

Australasian business solutions company Fusion5 merges with Myriad IT...

Throughout 2015 and 2016, the ERP solution provider landscape underwent significant structural change with multiple smaller operators either being bought out or merging with others to form at-scale operations. Though the year has just begun, that activity looks set to continue as Fusion5, which has operations on both sides of the Tasman, has teamed up with Myriad IT.

With 55 staff members across Melbourne, Sydney, Brisbane and Adelaide, Myriad implements ERP and CRM applications, IT infrastructure and provides managed services. Like Fusion5, Myriad is an Oracle and Microsoft partner.

In a statement, Fusion5 CE Rebecca Tohill said Myriad has an 18-year track record of success in similar markets to those addressed by her company. “Myriad’s skills complement and extend ours, while we offer new solution sets, customers, and partners to theirs.”

Tohill sees momentum building from the outset, with their respective JD Edwards and CRM teams discussing customer requirements and market opportunities. “Together, Fusion5 and Myriad IT make the most diverse, capable and talented Oracle JD Edwards team in Australia and New Zealand,” said Tohill. “A significant number of customers rely heavily on JD Edwards to run their businesses, and our goal is to be their partner of choice. Myriad IT’s in-depth IT skills readily transfer to our other customers across IT service management, CRM, infrastructure, app development, human resources and payroll.”

Myriad MD Heath Ragg said it made sense to combine the companies ‘to create a powerhouse of business technology skills, offerings and partner relationships’. “With greater scale, we will be able to commit more resources and staff to R&D and custom development, which are our strengths. This merger will provide great opportunities for our staff and ensure we can continue to provide our customers the best the market can offer.”

The merger with Myriad IT is Fusion5’s first major move for 2017 but is unlikely to be the last. It follows several other moves by the company; in early to mid-2016, it acquired and integrated parts of Koorb – a Microsoft Dynamics CRM and SharePoint practice – and BPR Solutions, a NetSuite Certified Solution Partner. At the time of the BPR acquisition, Tohill told iStart that the company wasn’t done consolidating the market just yet, an intention it has followed through on.

All staff and Myriad’s four shareholders join the combined entity, which will go forward as Fusion5, with the company ‘relaunching’ on April 3. Fusion5 said the merger pushes Fusion5’s portfolio out to ‘over 750 customers and close to 350 staff across nine offices’.

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