Deemed a “logical match” for Panalitix’s client base, AMMA specialises in sourcing and managing opportunities for investors in the technology sectors, utilising a global accounting firm network.
AMMA CEO Paul Jansz said the opportunity to take on such an investment is a natural fit for the group, noting a “strong synergy” between the two companies.
“AMMA Private Equity looks for alternative-style investment opportunities with growth potential, a proven track record and strong returns, so when the opportunity to invest in Panalitix came to us it was an offer we could not walk away from,” Mr Jansz said.
He also pointed out there has been a recent shift in accounting firms and their clients' targets when seeking investment opportunities.
“AMMA recognises accounting firms and their clients are seeking more alternate investment and are increasingly pursuing exposure to early stage tech ventures like Panalitix to potentially add to their investment portfolios,” he said.
The announcement follows reports in July that the software provider had offered existing accounting clients an $8 million stake in the company in an attempt to fuel overseas expansion.
Rob Nixon, Panalitix CEO and founder, noted that capital raised with assistance from AMMA Private Equity would help to fund European and North American ventures.
“As Panalitix continues to grow and expand subscribers, partnering with AMMA Private Equity Group will help to further expand our offering to other countries,” he said.
The not-to-be-missed Accountants Daily Strategy Day will travel through Melbourne and Sydney in August to equip accounting professionals with the latest industry updates and tips for modern practice management as well as the latest cutting-edge technology, processes, strategies and trends shaping the future of accounting. Visit the website for more information: www.accountantsdaily.com.au/strategy-day