Objective Corporation to acquire NZ-based govtech rival Isovist
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The news: Sydney-based public sector software provider Objective Corporation is set to acquire Kiwi rival Isovist in a NZD5 million ($4.63 million) deal to integrate the two companies’ software solutions for planning and building.
The numbers: Total cash consideration for the transaction is an enterprise value of NZD5 million, of which NZD4.25 million will be paid upfront and NZD750,000 will be deferred for two years.
Isovist’s annual rate of return at 30 June 2025 is NZD2.2 million and has been profitable since 2022. Its e-planning products are used by more than 50 councils in Australia and New Zealand.
The context: All Isovist employees will join Objective following the acquisition.
Objective said in a statement to the exchange that it will “integrate its proven artificial intelligence capabilities [with the Isovist platform] to further transform the planning and development process”.
What they said: “This acquisition is a strategic extension of our capabilities in planning and building for local government,” Objective chief executive Tony Walls said
"Isovist brings not only a complementary product suite to Objective, but also shared values of delivering specialised planning solutions to local government that help communities grow and thrive."
The source: ASX
