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The Australian software testing company Planit Testing was acquired by the Japanese consulting firm Nomura Research Institute for a value of 300 million US dollars.

The Australian branch of the Japanese management consultancy and IT provider Nomura Research Institute (NRI) has bought the local software quality assurance and testing company Planit Testing for an undisclosed sum. Though publicly announced just this week, reports in March indicate a price of $ 300 million, with private equity firm The Growth Fund preparing Planit for sale since the middle of last year.

Planit was founded in 1997 through a management buyout in Sydney. In 2015, The Growth Fund became a significant shareholder. Since then, Planit has grown to a team of 1,500 consultants spread across 12 offices in Australia, New Zealand, the UK and India. According to a press release, Planit will continue to operate under its own brand, led by current CEO Mike Weale, who has been with the company since 2004.

“We are excited to have the support of a large global company that NRI has behind us,” said Weale. “Planit has grown significantly since its inception, moving from an office to an industry leader with a significant presence around the world. We continue to see strong demand and growth for our services. Due to NRI’s global presence, this strengthens our ability to continue to deliver high quality customer solutions. “

In terms of NRI’s presence, the Japanese consulting firm employs more than 13,000 people worldwide (including an estimated 2,000 people in Australia) and has a presence in Europe, the United States and the Asia-Pacific region. For the company’s 50th anniversary in 2015, NRI presented its long-term management strategy Vision2022 for sustainable growth, which includes strengthening its international presence and expanding into other customer sectors.

“We look forward to continuing to achieve milestones that support NRI’s Vision2022 through the acquisition of Planit,” said Hiroyuki Kawanami, President of NRI Australia. “This is especially important as the efficiency of application testing and automation is a critical step in digital transformation initiatives to meet the demand for faster, easier-to-use, safer, and more accurate systems development.”

According to NRI figures, Planit had consolidated sales of ~ $ 150 million in June last year from numerous public and private sector customers in a variety of industries. The company is now joining a number of other local NRI subsidiaries, including, as of last month, the Commonwealth Bank subsidiary Australian Investment Exchange for $ 85 million.

“We are excited to have Planit and its very experienced and respected team join our group,” said Shingo Konomoto, CEO of NRI. “We have great ambitions to grow the business and are focused on empowering employees and delivering long-term value to institutional and advisory clients. We look forward to working closely with the team. “