Melbourne web design and development agency Squareweave has been acquired by New Zealand-based web and app developer Rabid Technologies for an undisclosed sum.
The acquisition will see 10 of Squareweave’s staff join the merged company and taking on a client base that includes Yarra Valley Water and the Victorian Women’s Trust.
The deal, which marks Rabid’s second acquisition since 2015, will see the Wellington-based company officially move into Australia.
“We have worked overseas before, but with this acquisition we will have a permanent home in Australia, and we can leverage our experience on both sides of the Tasman,” Rabid Technologies chief executive Breccan McLeod-Lundy said.
As part of the deal, Squareweave founders Will Dayble and Luke Giuliani will get minority shareholding roles with Rabid and will remain involved in the strategic direction of the company.
“Breccan and I have known each other for many years; he has built a stable technology company with strong values and I believe that this acquisition by Rabid will give us the scale we need to grow and address the bigger technical challenges faced by government and non-profit organisations in Australia,” Dayble said.
Rabid’s client base includes NZ Post, PledgeMe and Oranga Tamariki. The company’s offerings span web, iOS, and Android.
“Acquisition, both on and offshore, is definitely part of our long-term growth strategy,” McLeod-Lundy said.