This is Theta’s fourth significant acquisition in the past eight years, and the resulting expansion, plus organic business growth, sees the company on track to be a $50 million business by the end of 2020, according to CEO Rob Lee.
Both Theta and Designertech are NZ-owned tech firms, and each has been in business for almost a quarter of a century, working with some of NZ’s biggest organisations and most iconic brands. For Designertech, Mainfreight has been a key customer since 1994 and over this time Designertech has helped Mainfreight move beyond trucking. Mainfreight will now join Theta’s family of well-known customers including Auckland Transport, the University of Auckland, The Warehouse, Zespri, Fulton Hogan, Z Energy, Genesis and a wide range of government departments.
The two companies have grown up at home embracing New Zealand values and aspiring to help NZ organisations, large and small, compete locally and internationally with the strategic use of IT. Theta Chair Susan Paterson notes:
“With our enhanced size, capability, and credibility, Theta becomes an even more significant contributor in the New Zealand IT market, with an even greater ability to deliver smart solutions to both the public and private sector.”
Both companies are Microsoft Gold partners, and the acquisition adds strength and depth to Theta’s cloud and digital capabilities in particular. Phil Goldie, Microsoft New Zealand’s Partner Director, comments:
“It’s great to see these two strong and successful partners come together. Both are already well known for delivering great projects for their customers, and this is reflected in awards won and in their gold partner status. Together, working at an even bigger scale, we can’t wait to see what they achieve.”
And because the values and culture of both organisations are closely aligned, with a strong focus on people, customers, and innovative solutions, the transition from two to one has been smooth. Says Designertech CEO Ray Delany:
“We’ve known and respected Theta in the market for years. It’s been great to discover how much we have in common and how much stronger we can be together. Our people share a passion for helping our customers to prosper and grow. Having competed against each other to raise money for leading charity Cure Kids, we’re looking forward to competing on the same team.”