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Sydney-based B2B technology company aggregator Software Combined has ramped up the pace of global acquisitions with the addition of Holland’s WCC Group, the third deal in the Netherlands in the past two months.
WCC Group, described by Software Combined as an innovator in the technology sector for nearly three decades, supplies matching software to public employment services globally, including Bundesagentur für Arbeit in Germany, France Travail in France and Perkeso, Malaysia's social security organisation.
The deal for Utrecht-based WCC Group is the 13th acquisition by Software Combined since 2020 and comes on the heels of the group’s debut in the Dutch market announced in September when it scooped up Unified Streaming, a creator of streaming technologies.
At the time, Software Combined said it was in the final stages of securing two more acquisitions in the Netherlands, although the third acquisition has not been disclosed.
Software Combined, which was founded in Sydney by Dutch entrepreneurs Niek Hoogenhout, Evert den Hollander and Stefan Jansen, says the move into Holland is backed by the strength of the country’s technology sector, entrepreneurial culture and “a high appreciation for specialisation”.
The acquisition of WCC Group strengthens Software Combined's strategic focus on the Benelux market, namely Belgium, the Netherlands and Luxembourg.
The Australian company, which has an office in Amsterdam serving as its European hub, says it is dedicated to building a portfolio of successful, niche B2B software companies and providing them with a "permanent home" for sustainable growth.
The acquisition strategy is backed by the investment nine years ago from private equity firm Avedon Capital Partners, which already had a significant stake in WCC Group prior to the Software Combined acquisition.
"WCC Group represents the type of company we look for: an enterprise with deep expertise, strong customer relationships, and a leading position in a niche market," says Evert den Hollander, CEO of Software Combined.
"WCC Group has secured a leading position in delivering intelligent workforce matching solutions.
“Their cloud-based products help organisations on multiple continents transform the way they connect people with employment opportunities.
“Our approach is to preserve their unique culture and identity while providing the resources to accelerate their growth."
Jan Jensen, CEO of WCC Group, says Software Combined shares his company’s “long-term commitment” and “proven track record in supporting businesses like ours”.
“They are not a traditional investor; they are building a permanent home for companies that have found their niche and want to grow sustainably,” says Jensen.
“We look forward to leveraging Software Combined's global presence to expand our reach, while maintaining the quality and innovation our customers expect from us."
WCC Group, founded in 1996 and with a presence in Kuala Lumpur, provides workforce solutions that fundamentally transform the way organisations connect people and jobs, serving a global market comprising public employment services, staffing agencies and large enterprises.
The company’s software impacts half a billion people daily and powers large-scale labour market initiatives worldwide, including MyFutureJobs in Malaysia which supports more than 300,000 job seekers and 30,000 employers, as well as the recruitment activities of Robert Half in the US.
"Since our investment in WCC, we have supported the company in its transformation into a globally recognised provider of matching software with societal impact," says Alfred Tulp, partner at Avedon Capital Partners.
"Together, we supported WCC in strengthening its international position, expanding its product offering, and developing innovative solutions that help public institutions worldwide improve their services.
“We look back with pride on our shared journey and are confident that WCC will successfully continue its next phase of growth under Software Combined."
Software Combined has been actively pursuing acquisitions in the Australian market in recent years, with its domestic stable growing to include Removify, Hero Software, Last Yard, MacroView and ATO SmartDocs.
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