Acquisition of Xplor by TSG completes after regulatory approvals received
The sale of Xplor to New Zealand based global payment solutions provider Transaction Services Group (TSG) has now completed after the company received the green light from both the Australian Competition and Consumer Commission (ACCC) and the Foreign Investment Review Board (FIRB) to allow the deal to proceed.
The deal, which was first announced in December 2019, will see ownership transfer from legacy shareholders that include (but are not limited to) AirTree Ventures and OMKA Group to TSG who itself was subject to an ownership change in 2019, when a majority stake was purchased by UK based global private equity house Advent International.
Commenting on the news Mark Woodland, founder and Chief Executive Officer of Xplor, said “None of this would be possible without the support of my family and team. We have a big vision to help make education great and are ready to accelerate that dream with TSG and Advent International.”
Xplor was founded in 2015 and has since become the largest “all in one” childcare management software platform in Australia, with modules that include Xplor Office, Xplor Playground, Xplor Home and more recently Xplor Space.
With the transaction now complete, Xplor will now join QikKids’ owner, QK Technologies, in the TSG family of companies. Both companies will continue to operate as independent businesses going forward although it is expected that opportunities to collaborate that are ultimately in the best interest of their customers will develop over time.