US-based Dude Solutions acquires Australia’s PE-backed company Assetic

Assetic co-founders Ashay Prabhu (left) and Joel Brakey

Cloud-based operations software provider Dude Solutions has acquired Assetic, a Melbourne-based technology firm backed by Australian private equity investor MH Carnegie & Co, according to an announcement.

The financial terms of the deal were not disclosed.

Founded in 2006, Assetic is a cloud-based asset management vendor that offers advanced predictive modelling capabilities to facilitate the maintenance of infrastructure. The company expanded its operations to North America last year.

“Combining our product with the Dude Solutions suite is incredibly exciting as this acquisition positions our team to support the growing demand for strategic asset management globally,” said Assetic co-founders Ashay Prabhu and Joel Brakey in a statement.

MH Carnegie had acquired a 55 per cent stake in Assetic for A$10 million ($6.1 million) in 2013, according to AVCJ.

The acquisition strengthens Dude Solutions’s comprehensive and connected suite of operations management software and solves an important need of clients, the US company said in a statement.

Dude Solutions is a software-as-a-service (SaaS) provider of operations management solutions to education, government, healthcare, senior living, manufacturing and membership-based organizations. The company claims to have catered to over 11,000 organizations to date.

Established in 2010, MH Carnegie is an alternative asset manager with approximately A$900 million in committed funds under management across venture capital, private equity and real estate.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.