Auckland-based business applications company Fusion5 has bought Mindfull, extending its professional services and data capabilities and its client base.
The buyout adds a further 100 clients to Fusion5’s existing customer base and extends its portfolio of corporate performance management solutions and resources.
Key new vendor partnerships include IBM, Informatica and Certent.
Also based in Auckland, Mindfull was founded 25 years ago under the name Cortell before being rebranded in 2014.
"With this acquisition, we welcome close to 30 new team members to Fusion5, making us one of the largest providers of corporate performance management (CPM) solutions in New Zealand," said Rebecca Tohill, Fusion5 chief executive A/NZ.
"Mindfull’s unique suite of solutions deepens our capability to our clients in CPM as well as significantly contributing to our growth objectives in areas such as enterprise data management and integration, reporting automation and governance."
Mindfull CEO Belinda Johnson said the sale to Fusion5 helped Mindfull to grow.
"We have fantastic clients and staff, but opportunity wise, it felt as though we were only scraping the surface, she said.
"Mindfull and Fusion5 have huge cultural and business synergies, and we’re both very customer centric. They have pillars we don’t have, and we have a pillar that they’ve been looking for to enable growth.
"We recognise that as one business we can add even more value to our customers’ businesses."
Johnson said Fusion5’s extensive support network was a compelling proposition as were the professional growth opportunities for the Mindfull team.
"We’re a small team, and exposing our people to new solutions and customers will open doors for them. Knowing that our people, and their futures, will be well cared for was a very important consideration."
Leading Fusion5’s new CPM practice is Ben Schofield in the role as GM corporate performance and data management.
Schofield joined Fusion5 directly from Datacom, but before that he was with Mindfull for the six years and was instrumental in winning many of its largest customers.
Fusion5’s portfolio now included over 900 customers and 470 staff across nine offices.
Mindfull was nearly 80 per cent owned by Johnson and interests associated with her and 20 per cent by investor Punakaiki Fund.