Banyan Software will acquire printIQ in a move to boost research, development and growth for the local print software success story.
Anthony Lew, chief executive at printIQ, says that after 22 years building the business, it became obvious printIQ needed “a partner to invest in growth and take us to the next level”.
He says, “With the help of many amazing people, we have established our business as a market leader that drives innovation through the print industry.”
Significantly, printIQ will continue as a standalone business but with thelong-term backing of the Canada-based software investment company. Also importantly, Lew will remain in his role with the same team.
He sees this as similar to other Kiwi businesses that have made it to “a certain point but then need help and investment to take the next step”.
The company has achieved significant growth over the past year with operations spanning New Zealand, the US, Europe, Australia and Canada and employing more than 50 staff. Lew says, “I am delighted to have found a partner that can help us to write the next chapter in our story. Banyan shares many of the values that we hold so high and has a proven reputation for growing businesses.”
He adds that Banyan Software provides “the best permanent home for successful enterprise software companies, their employees, and customers. With a permanent capital base set up to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies”.
David Berkal, chief executive at Banyan Software, says, “It was clear from the beginning how committed the printIQ team is to building quality solutions and providing excellent customer service, alongside an equal commitment to creating a culture that their employees are proud to be part of.”
Best solutions
Lew continues, “printIQ has always had a history of rising to the challenge of pushing the limits of what a print MIS can do. From our early days as a small New Zealand start-up, we have continued to work tirelessly to build the best solution possible. Our inspiration has always been our customers who have believed in the vision of what the platform could be. Consistently pushing it to the next level means that development is never complete.
“We are excited to have a partner who will help us deliver on that promise by investing in the business, growing into new markets, and delivering the best solutions for the print industry.”
With the same teams for sales, marketing, customer service, support and product development, he has a clear focus for printIQ, He adds, “My goal is to continue building the product, extending our reach into new markets, and improving the way we listen, partner with, and support our existing customers.”
Berkal concludes, “We are very excited to welcome printIQ to Banyan as we continue to expand into the Australia and New Zealand market.”
