Two Wellington-based companies, digital and technology consultancy Ackama and business intelligence specialist Midas Infomedia, are merging in a non-cash transaction.
Midas Infomedia will join the Ackama Group after together looking at ways to better weather the challenges of the current crisis and of being an SME in New Zealand.
Ackama has claimed $208,058 from the government's wage subsidy scheme (more here) for its 30 employees.
Access to the subsidy requires companies to show they have or expect to experience a 30 per cent decline in revenue due to the Covid-19 outbreak.
Ackama had been delivering more data-heavy projects in the last year including work with Data Ventures at Stats NZ. That has created an opportunity for Midas to slot into.
Rumi Shivaz, managing director of Midas Infomedia said he had been actively looking for a complementary team to join forces with to increase our capacity and capability to better serve our clients.
"The biggest challenge was to find a team which is 100 per cent aligned with my values as well as being commercially smart."
Midas cites customers including NZTA, The Department of Conservation, Interislander and Accuro Health Insurance on its website.
Breccan McLeod-Lundy, CEO and Founder of Ackama said, not only was Shivaz a great person but Midas has been working on problems Ackama found genuinely interesting.
"This merger both creates the opportunity for us to broaden our capabilities in the data space and support Rumi to do more of the things he cares about and less focusing on the minutiae of running a small business,” McLeod-Lundy said.
The transition will happen over the next two months with extra time allowed for transitioning staff and clients depending on the impacts of Covid-19.