Perth, Australia & Menlo Park, California, OCTOBER 8 — Accel-KKR has acquired listed company K2fly and will combine the regulatory, compliance and disclosure tech business with workforce, safety, training and reporting business INX Software to create one of Australia’s largest providers of mission-critical software for high-risk industries.
The SaaS powerhouse will offer a suite of specialist software used by the mining and resource sector as well as other large, fast-paced, remote and complex operations in health, transport, energy & utilities, engineering, manufacturing and government. The deal reinforces Accel-KKR’s ongoing commitment in investing in best-in-class, enterprise-focused, vertical software providers in Australia.
INX CEO Marcus Ashby said the two Perth-based companies were a natural fit, with many clients in common and complementary software solutions. K2fly, which supports mining operations in 900 locations in 62 countries, will bolster INX’s global regulatory compliance business, bringing software that addresses industry needs such as land and tailings management, environmental monitoring and rehabilitation, ground disturbance, land access planning and heritage. Its suite will complement INX Software’s portfolio of software solutions used by global companies to manage their workforce management, safety, compliance, training, and reporting requirements.
“The two companies share values and market outlooks, as well as a commitment to servicing some of the world’s biggest, most complex and fast-paced operations,” Mr Ashby said. “We both prioritise collaboration, integrity, and growth, providing a strong foundation for integration. K2fly’s additional values of customer focus and curiosity complement INX Software’s emphasis on accountability and innovation. Having a complementary set of values represents an excellent basis for creating a cohesive culture built on respect, innovative thinking and sustainable growth.”
K2fly CEO Nic Pollock said the two companies shared an understanding of the mining and resources sector with deep sector expertise in fast-paced, high-risk industries. “By combining our solutions, we can connect K2fly’s RegTech expertise, which helps clients navigate complex compliance obligations, with INX Software’s strengths in risk, logistics, planning and workforce management,” Mr Pollock said. “We are also excited about building on the mutual commitment of our companies to good environmental citizenship and ESG. Together, we can offer companies more robust, innovative solutions designed in concert with industry experts, along with specialist technology that helps identify, manage, mitigate and report on environmental risk.”
Dean Jacobson, Managing Director at Accel-KKR, said uniting the companies would allow the business to innovate, build and grow their markets by leveraging the teams’ collective strengths. “Current and target clients that INX and K2fly serve face increasingly stringent regulatory obligations for identifying, managing and reporting risk, and need a robust tech stack of vertical solutions,” Mr Jacobson said. “Leveraging the collective strength of INX and K2fly is a highly strategic response to the evolving compliance landscape to help clients stay ahead of enterprise risk and enable them to scale their businesses with confidence.”
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About INX Software
INX Software enables businesses in fast-paced and complex industries to mobilise their workforce and navigate health, safety and environmental challenges to better protect people and the planet.
Based in Perth, Western Australia, we are globally trusted leaders in the delivery of workforce management, environment, health and safety software solutions, supporting our clients in the operation of safer, smarter and sustainable workplaces. We provide solutions across industries, including resources, oil & gas, transport, energy & utilities, engineering, manufacturing and government sectors.
About K2fly
K2fly provides enterprise-level Resource Governance solutions for ‘net positive impact’ in Environmental, Social and Governance (ESG) compliance, disclosure and technical assurance, to operations of mining and asset intensive industries through its platform-based SaaS cloud solutions.
Its solutions address industry challenges and help manage risk around clients’ social licence to operate concerning reporting and governance, reputation and disclosure demands.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.
