Melbourne-based Myriad IT will merge with business solutions company Fusion5 in a marriage of Oracle and Microsoft and the latest in a string acquisitions by trans-Tasman player Fusion5.
A software integrator that ranked No. 47 in the 2015 CRN Fast50, Myriad IT has 55 staff across Melbourne, Sydney, Brisbane and Adelaide. Supported by Microsoft and Oracle, the company also provides managed services, infrastructure and supports services across ERP and CRM applications.
Myriad's score sheet includes a world-first Oracle JD Edwards migration to AWS for publishing giant News Corp and a Microsoft Dynamics customer relationship system for Tennis Australia.
Fusion5 provides ERP integrations and business solutions across Australia and New Zealand with a 300-staff footprint across the two countries and is also a Microsoft and Oracle partner.
The merger sees Fusion5’s portfolio grow to more than 750 customers and close to 350 staff across nine offices.
Fusion5 chief executive Rebecca Tohill, who will lead the combined company at the merger's completion, said the two businesses’ positions in the market were complementary and that each team’s respective JD Edwards and CRM teams had already started hashing out new market opportunities.
“Together, Fusion5 and Myriad IT make the most diverse, capable and talented Oracle JD Edwards team in Australia and New Zealand,” she said.
“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 IT managing director Heath Ragg told CRN the combined company was on track to generate $70 million in revenue over the next 12 months.
“It made sense to combine Fusion5 and Myriad IT to create a powerhouse of business technology skills, offerings and partner relationships,” he said.
“With greater scale, we will be able to commit even more resources and staff to R&D and custom development which are our strengths,” he said.
Ragg said All Myriad IT principals would remain with the business and take on key responsibilities within Fusion5.
"For example, I am stepping down as Myriad IT managing director, but stepping up to the strategic role of Fusion5 director A/NZ managed services to ensure we leverage our combined new breadth and capabilities in cloud and services offerings. This is a direction and focus that I have a lot of experience in, and am extremely excited to be taking to the next level," he said.
The merger kicks of Fusion5’s year following some notable acquisitions in 2016, including a major Microsoft Dynamics CRM and SharePoint practice, and NetSuite partner BPR Solutions.
The launch date for the expanded Fusion5 Australia is 3 April 2017. A search has begun for bigger offices in Melbourne and Sydney.