The remote staffing platform and offshore consulting outfit join forces after three boom years.
Cloudstaff acquires optiBPO to drive global growth strategy
Australian remote staffing platform Cloudstaff has acquired Sydney-based offshoring consulting business optiBPO as part of its two-year global growth strategy.
CEO of Cloudstaff Lloyd Ernst said the acquisition was prompted by the firm’s significant growth of more than 50 per cent for the past three years, with a revenue of $123 million in 2021–22.
“Cloudstaff was already growing at more than 50 per cent a year as the pandemic hit and the last three years have added fuel,” said Mr Ernst. “We’ve doubled our team size since 2020 and are planning to increase it by a further 70 per cent in the next 12 months.
“We see the offshoring total addressable market as virtually unlimited. The global talent shortage, exacerbated by the pandemic, has been powering our growth.”
“Now, as companies review their costs in the face of economic uncertainty, Cloudstaff is perfectly positioned to deliver the skills they need to survive and thrive, even in tough times.”
Consulting firm optiBPO works with companies in Australia, New Zealand, North America and Europe to help plan, manage and build dedicated teams in the Philippines.
Cloudstaff confirmed optiBPO’s co-founders James McBrien and Nicola Mace would remain with the firm while its chief commercial officer Jason Foster would join the executive team as general manager.
Mr McBrien said optiBPO would continue to provide its existing services but the acquisition would improve delivery.
“We’ve been working exclusively with Cloudstaff since 2016 and are now delighted to be deepening our partnership,” said Mr McBrien.
“OptiBPO will continue to provide more than just a seat in delivering advisory services to help our clients plan, build and manage high-performing offshore teams.”
“This includes our process, quality and documentation services that help ensure success. For our clients it is business as usual, but we look forward to working with Cloudstaff to further improve our service delivery over the next period.”
Cloudstaff said the acquisition would add specialist offshoring consulting capability and assist the firm in achieving its growth plans.
Mr Foster said the services offered by optiBPO would see Cloudstaff continue its development and success.
“Offshoring is a hugely attractive option for many companies faced with global talent shortages and increasing cost pressures, but the ability to plan, implement and manage an effective operating model is crucial to success,” he said.
“I’m looking forward to working with optiBPO to extend Cloudstaff’s capability in this area.”
Mr Ernst said the firm’s growth strategy was to strengthen its services in overseas markets.
“While Australia has been our core market, we serve companies in 17 different countries,” he said.
“We’ve hired a number of senior people into newly created positions over the last six months as we extend our capability and deepen our penetration in the UK and US markets in particular.”
“We welcome optiBPO to the Cloudstaff group and look forward to announcing further acquisitions in the year ahead.”