Orem-based supply chain management software company Avetta has agreed to acquire Pegasus of Newcastle, Australia. Pegasus is a supplier of worker competency management software and services. Its products are used by more than 100 hiring clients, including BHP, Lendlease and Otis, to manage 3.5 million workers employed by 70,000 suppliers.
Avetta said combination of the two companies will help accelerate Avetta’s global growth strategy and is expected to create the largest provider of supply chain risk management and compliance solutions, with nearly 170,000 suppliers and 4 million managed workers.
“The events of the past year have highlighted that risks to an organization extend into its supply chain and on-site contractors,” Avetta said in explaining the acquisition. “In order to ensure safer operations, corporations must ensure these essential workers have sufficient training and accreditation to perform their jobs without injury, and monitor access to hazardous areas and equipment. The powerful Pegasus online platform has helped manage these trade-specific compliance requirements since its inception in the mining industry in 1987.”
“Together, Avetta and Pegasus will provide our clients the largest and most complete supply chain risk and worker competency management solution in the world,” said Arshad Matin, Avetta CEO and president. “The Australian government and businesses have led the way in monitoring contractor safety and compliance programs. We are excited to add this pioneering software innovator and take those insights and capabilities worldwide.”
“Pegasus and Avetta both share a vision to ensure workforces are competent and safe, and risk is being managed globally,” said Adam Boyle, Pegasus CEO. “Our worker competency expertise complements Avetta’s world-class supply chain risk management product and will benefit our people, clients and contractors as they access an even greater international network in a single provider.”
In addition to is Australian headquarters, Pegasus has offices in New Zealand and channel partners in Germany, England and Scotland. The company provides worker competency management, induction and learning management, supplier prequalification, site access and asset management. It serves a diverse range of industries, including construction, energy, healthcare, government, manufacturing, mining, retail and facilities, transportation and utilities.
Pegasus will become the base of operations for Avetta in Australia. Boyle will join Avetta and continue to lead the Pegasus business and help Avetta expand further in the Australia-New Zealand market. Boyle and current Pegasus investor Accel-KKR will become equity investors in Avetta.
Avetta’s technology platform, Avetta Connect, helps companies worldwide manage risk and build resilience in their supply chains — from increasing visibility within the network to ensuring safety and sustainability, the company said. The Avetta Marketplace provides suppliers and contractors discounts on insurance and safety-related products and services. The company is majority-owned by Welsh, Carson, Anderson & Stowe with key investments from Technology Crossover Ventures and Norwest Venture Partners.
The acquisition is expected to close after receipt of regulatory approvals. Until that time, both companies will continue to operate independently.
