)
Sydney-headquartered document management software company Organiseit has been bought by insurance technology group JAVLN for an undisclosed sum, just two months after the New Zealand-based acquirer raised $6 million in a round led by Microequities Asset Management.
JAVLN was attracted to OIT's "exceptionally loyal customer base" and reputation for "reliability, efficiency and robust information organisation".
Founded by husband-and-wife duo Raymond Hatch and Jane Davies, OIT provides a digital office filing system for storing all data files, allowing users to organise, structure, store, search, retrieve and access all of their valuable information in a secure environment.
The acquisition is aimed at strengthening JAVLN's leadership in insurance technology and "supporting its mission to modernise insurance operations through connected, cloud-first technology".
OIT's technology is already used by major insurance industry players including Arthur J. Gallagher, Miramar and the Underwriting Agencies of Australia (UAA).
"We are delighted to welcome the talented OIT team and their partners into the JAVLN family, to support our core mission: to help insurance brokers, agencies, and underwriters evolve into super powered risk advisers," says JAVLN CEO David Leach.
"We will achieve this by providing them with a digital ecosystem that is easy-to-use, inherently secure, and compliance-friendly."
The sale marks a natural exit for the founders, who set up OIT in the 90s, as they head into retirement.
"As my wife Jane and I head into retirement, we’re so happy to have found the perfect home for our employees and customers," says co-founder Raymond Hatch.
"OIT's loyal customer base, combined with JAVLN's secure cloud platform, creates powerful synergies that benefit everyone. This move ensures the long-term viability and innovation that critical business software needs."
)
