INX Software and K2fly join forces
INX Software, an Australian developer of compliance, workforce management, training and reporting software for complex and high-risk industries, has announced it will join with fellow Perth company K2fly to create one of Australia’s biggest providers of mission-critical software for high-risk industries.
The two companies share a lead investor in Accel-KKR (AKKR), which is committed to investing in enterprise-focused, vertical software providers in key regions such as Australia.
The new business will offer a suite of specialist software used in the mining and resource sector as well as other large, fast-paced, remote and complex operations in health, transport, energy & utilities, engineering, manufacturing and government.
INX CEO Marcus Ashby said the two Perth-based companies were a natural fit, with many clients in common and complementary software solutions.
K2fly, which supports mining operations in 900 locations in 62 countries, will bolster INX’s global regulatory compliance business, bringing software that addresses industry needs such as mineral resource disclosure, land access, reconciliation, permitting and heritage management, tailings, rehabilitation, environmental monitoring and mine geology data management.
Its suite will be complemented by INX Software’s portfolio of software solutions used by global companies to manage their workforce management, safety, compliance, training, and reporting requirements.
Ashby said the two companies shared an understanding of the mining and resources sector with deep sector expertise in fast-paced, high-risk industries.
“By combining our solutions, we can connect K2fly’s RegTech expertise, which helps clients navigate complex compliance obligations, with INX Software’s strengths in risk, logistics, planning and workforce management,” he said.
“We are also excited about building on the mutual commitment of our companies to good environmental citizenship and ESG.
“Together, we can offer companies more robust, innovative solutions designed in concert with industry experts, along with specialist technology that helps identify, manage, mitigate and report on environmental risk.”
Dean Jacobson, Managing Director at Accel-KKR, said uniting the companies would allow the business to innovate, build and grow their markets by leveraging the teams’ collective strengths.
“Current and target clients that INX and K2fly serve face increasingly stringent regulatory obligations for identifying, managing and reporting risk, and need a robust tech stack of vertical solutions,” Mr Jacobson said.
“Leveraging the collective strength of INX and K2fly is a highly strategic response to the evolving compliance landscape to help clients stay ahead of enterprise risk and enable them to scale their businesses with confidence.”