Melbourne-based Microsoft partner Sable37 is on the hunt for new investors as it looks to expand its services.
Sable37 brought in KPMG Financial Services to help find potential equity investors to partner with, as first reported by the Australian Financial Review.
A Sable37 spokesperson told CRN that the company was looking for minority investors, not an outright sale.
Sable37 specialises in cloud-based industry solutions based on Microsoft's Dynamics 365. The spokesperson said that an equity partner would help accelerate solution development in its target industries – retail and distribution, homebuilding, food manufacturing and government.
The company sent out an information memorandum last month, and said it was "in conversations" with parties interested in partnering up.
"As a software provider, we know that customers want to partner with someone who knows their industry and can add value beyond basic software," the spokesperson said.
"We believe in the value of intellectual property (IP) and in the real-world expertise of our people. We are deeply committed to continued investment to deliver transformational solutions to our customers, that will allow them to better serve theirs."
No stranger to acquisitions itself, Sable37 bought a 50 percent stake in payroll and HR processing technology firm Payfields in March. At the time, the company said the addition of Payfields would enable the Sable37 to streamline implementation, enhance product demand and provide configurable payroll processing.
Sable37 was a finalist for Microsoft's Enterprise Resource Planning award at the vendor's global partner awards. The company also appeared in the 2015 CRN Fast50 with 59 percent revenue growth to reach $17.4 million revenue for the year.
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