Australian company buys Kiwi document firm

Australian company buys Kiwi document firm

Australian document management specialist Speedscan has acquired Auckland-based scanning and imaging provider Datacap. The combined company will have 100 staff and Datacap’s premises in Auckland and Wellington join the Speedscan’s offices in Sydney, Melbourne and the Philippines. Speedscan CEO Mark Josman says the companies have highly complementary technologies and there were several reasons for the buyout. “The New Zealand market for outsourced document services is sophisticated and growing rapidly. “We are also seeing an increased demand for cross-border capabilities for larger regional companies. These drivers convinced us this merger is a unique opportunity.” The acquisition follows a management buyout of Speedscan’s Asia Pacific businesses last month, backed by private equity firm Accretion Investment Management. The MBO deal included a Philippines-based development team, and Josman says it gave complete control of the direction, technology and service offerings for Asia Pacific. Datacap founder Mark Wootton will become Speedscan’s chief technology officer. Speedscan is more than 10 years old, while Datacap has been operating since 1993.

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