Australian training software vendor OzSoft Solutions, started in the 1990s in a garage by two TAFE employees, has been sold by troubled training organisation Vocation.
OzSoft software VETtrack is designed for training providers and is used in more than 1,200 organisations. The company was sold on 19 May by Vocation for an enterprise value of $4.5 million.
The sale follows a highly-publicised period of difficulties for Vocation since late last year, which has seen the loss of millions in government funding, closure of one of its businesses, and the announcement that around 1,100 students’ qualifications would be withdrawn.
The new owners of OzSoft are California Investments and Simonds Family Office, a major shareholder Simonds Group, which includes the 65 year-old Australian home builder Simonds Homes.
Simonds Family Office is already active in providing IT to the training industry through ownership of RTO Management Services, which provides IT solutions and services to registered training organisations (RTOs) in Australia. The software supplier implements OzSoft’s product VETtrack.
Simonds Group also supplies training to home builders via its business Builders Academy Australia.
OzSoft is more than 15 years old, having started in the 1990s in a garage in Tasmania by TAFE employees Gordon Scrim and Mike Rego.
The VETtrack product is a desktop or cloud solution customers can install themselves or have OzSoft manage from a hosting facility. The product manages information on enrolments, training venues, trainers, events, invoicing, receipts, payments, batch emails to students and employers, and financial reports.
The company also offers data migration and VETtrack customisation and accreditation for third party consultants. OzSoft also has an accredited VETtrak consultant program.
The first version was sold in 1998 and the company was acquired by Vocation in 2013. Vocation has offices in Launceston and Melbourne according to its website.
The company is looking to add key management and offices in Victoria, NSW and Queensland, according to a press release.