Legal software and regulatory information provider GlobalX has bolstered its position in the Australian technology market after signing a binding agreement to acquire national Verification of Identify technology company IDSecure.
The deal, announced today, will allow GlobalX to immediately expand its suite of software and online services, offering increased workflow capability for legal and conveyancing professionals – including innovative Verification of Identity (VOI) technology – to its 17,000 Australian userbase.
GlobalX CEO Peter Maloney said within a matter of 2 weeks, IDSecure will be integrated into GlobalX’s suite of online and software solutions for law firms and conveyancers including Matter Centre, Open Practice and the GlobalX Search platform.
“When looking to expand our offering through strategic partnerships and acquisitions we seek out businesses that share our unique value proposition and commitment to innovation,” Mr Maloney said.
“IDSecure has built a terrific brand reputation and established itself as an industry leader.”
“The Paholski family, founders of IDSecure, share a real passion for technology and we are looking forward to the increased services our combined businesses will deliver to our customers.”
The deal sees GlobalX take over as IDSecure’s major shareholder and become responsible for all administrative and management functions of the business. And, the face of IDSecure Lara Paholski will take on the role of Executive General Manager of IDSecure within the GlobalX suite of brands.
“What I am most pleased about is the retention of the Paholski family in the business. Mark Paholski is well recognised as a leading VOI expert in Australia, and Lara Paholski has been unstoppable in building long lasting customer relationships,” Mr Maloney said.
“The Paholski family’s continuing investment in IDSecure ensures that the founding principles remain firmly in place, and when combined with GlobalX’s scale, we have a very powerful combination.”
Mr Maloney said the acquisition reflected the continued execution of GlobalX’s expansion strategy and its continued commitment to deliver a premier service to clients across Australia.
“As we have done for more than 24 years, we will continue our focus on investing in new technologies to ensure our conveyancing, workflow and legal software provides complete, end-to-end solutions for our clients,” Mr Maloney said.
“With online property settlements set to become mandatory in Western Australia, New South Wales and Victoria by August 2019, VOI software is now more important than ever before.”
“We are thrilled to be able to offer our clients the opportunity to move ever closer towards a paperless conveyancing process that is safe and cost-effective.”
IDSecure Director Mark Paholski welcomed the opportunities that the deal would generate for practitioners.
“GlobalX is the market leader and committed to constant innovation through advancement,” Mr Paholski said.
“We are excited to join an organisation that shares our passion for technology, one that puts the customer front and centre,” he said.
“This is the beginning of a very strong relationship and we look forward to new opportunities this may bring.”
This is GlobalX’s sixth major acquisition in the past decade, securing the company’s position as the leading provider of end-to-end legal and conveyancing software solutions in Australia.