Five V purchases Totara ownership interest, setting the stage for Totara’s expansion into global HR technology market
For Immediate Release
Wellington, New Zealand, June 16, 2020 – Totara today announced that its owners have entered into a purchase agreement with Sydney private equity firm Five V Capital, under which Five V will acquire a majority ownership interest in Totara. The operations and management of Totara will remain unchanged with Richard Wyles continuing as Chief Executive Officer.
Since 2011, Totara has remained focused on helping organizations experience the freedom to innovate and adapt to changing circumstances through its open and flexible HR and Learning & Development software.
Today’s rapidly evolving workplace and the strategic imperative of having engaged and well-trained employees, further accelerated by COVID-19, has prompted corporations and organizations to adapt new working practices. Totara’s products – used by over 1,800 organizations like USDA, Indeed, Pepsi, Red Hat, JetBlue, Yamaha, and more – is well-positioned to meet this growing market.
“I am excited to welcome Five V Capital in Totara’s mission to drive a new era of innovation, workplace performance and productivity,” said Wyles. “Five V’s collaborative and growth-oriented approach will accelerate our efforts to build Totara’s presence in new and existing markets – at a time when the demand for remote workforce technologies is growing exponentially.”
Wyles said: “Totara’s enterprise-ready learning management system (LMS), user-centric learning experience platform (LXP), and comprehensive performance management system – which will be released in October 2020 as the Totara Talent Experience Platform – is a formidable challenger and strategic alternative to often over-priced and inflexible HCM systems. We’re here to shake things up for the better and it’s great to have experienced and aligned partners in Five V.”
“We are excited to be part of Totara’s future and to be partnering with Richard and his team,” said Srdjan Dangubic, Partner at Five V Capital. “Totara is a globally ambitious business with enormous potential. We look forward to supporting Totara’s international expansion plans to disrupt the global HR and talent experience markets,” Wyles said.
Vista Point Advisors, a San Francisco-based boutique investment bank, acted as the exclusive financial advisor to Totara.
About Totara
Totara builds employee engagement, learning, and performance management technologies that enable large multinational corporations, government entities, and mid-market companies to deliver enterprise-level talent and workforce experiences. Totara’s Talent Experience Platform (TXP) unifies an industry-leading learning management system (LMS), a user-centric learning experience platform (LXP), and a comprehensive performance management system under a single and highly adaptable architecture. Totara’s TXP and flexible architecture gives organizations the freedom to innovate, the freedom to choose, and unlocks critical resources for reinvestment into where it really counts. https://www.totaralearning.com/
About Five V
Five V Capital is a growth-focused private equity fund based in Sydney, Australia. Five V has in excess of A$450 million of capital available to partner with leading founders and businesses in Australia and New Zealand. With a focus on B2B and technology-enabled services, Five V’s current portfolio includes Education Perfect, Probe Group, Universal Store, Zenith Investment Partners, RateSetter Australia, Canva and SiteMinder. More information is available at www.fivevcapital.com/
- : Richard Wyles
- : CEO
- : richard.wyles@totaralearning.com
- : 043858399
- : https://totaralearning.com
- https://twitter.com/totaralearning | https://www.linkedin.com/company/totaralearning/
Five V purchases Totara ownership interest, setting the stage for Totara’s expansion into global HR technology market
Wellington, New Zealand, June 16, 2020 – Totara today announced that its owners have entered into a purchase agreement with Sydney private equity firm Five V Capital, under which Five V will acquire a majority ownership interest in Totara. The operations and management of Totara will remain unchanged with Richard Wyles continuing as Chief Executive Officer.
Since 2011, Totara has remained focused on helping organizations experience the freedom to innovate and adapt to changing circumstances through its open and flexible HR and Learning & Development software.
Today’s rapidly evolving workplace and the strategic imperative of having engaged and well-trained employees, further accelerated by COVID-19, has prompted corporations and organizations to adapt new working practices. Totara’s products – used by over 1,800 organizations like USDA, Indeed, Pepsi, Red Hat, JetBlue, Yamaha, and more – is well-positioned to meet this growing market.
“I am excited to welcome Five V Capital in Totara’s mission to drive a new era of innovation, workplace performance and productivity,” said Wyles. “Five V’s collaborative and growth-oriented approach will accelerate our efforts to build Totara’s presence in new and existing markets – at a time when the demand for remote workforce technologies is growing exponentially.”
Wyles said: “Totara’s enterprise-ready learning management system (LMS), user-centric learning experience platform (LXP), and comprehensive performance management system – which will be released in October 2020 as the Totara Talent Experience Platform – is a formidable challenger and strategic alternative to often over-priced and inflexible HCM systems. We’re here to shake things up for the better and it’s great to have experienced and aligned partners in Five V.”
“We are excited to be part of Totara’s future and to be partnering with Richard and his team,” said Srdjan Dangubic, Partner at Five V Capital. “Totara is a globally ambitious business with enormous potential. We look forward to supporting Totara’s international expansion plans to disrupt the global HR and talent experience markets,” Wyles said.
Vista Point Advisors, a San Francisco-based boutique investment bank, acted as the exclusive financial advisor to Totara.
About Totara
Totara builds employee engagement, learning, and performance management technologies that enable large multinational corporations, government entities, and mid-market companies to deliver enterprise-level talent and workforce experiences. Totara’s Talent Experience Platform (TXP) unifies an industry-leading learning management system (LMS), a user-centric learning experience platform (LXP), and a comprehensive performance management system under a single and highly adaptable architecture. Totara’s TXP and flexible architecture gives organizations the freedom to innovate, the freedom to choose, and unlocks critical resources for reinvestment into where it really counts. https://www.totaralearning.com/
About Five V
Five V Capital is a growth-focused private equity fund based in Sydney, Australia. Five V has in excess of A$450 million of capital available to partner with leading founders and businesses in Australia and New Zealand. With a focus on B2B and technology-enabled services, Five V’s current portfolio includes Education Perfect, Probe Group, Universal Store, Zenith Investment Partners, RateSetter Australia, Canva and SiteMinder. More information is available at www.fivevcapital.com/
New Zealand Tech Alliance calls for event submissions for nationwide festival of tech
New Zealand Tech Alliance, a group of over 20 independent technology associations, is calling for submissions from organisations keen to take part in Techweek2020, a nationwide series of events showcasing and celebrating New Zealand tech innovation during the week 18 – 24 May.
Tech Alliance Chief Strategy Officer Julie Gill says Techweek2020 is a fantastic opportunity for everyone involved in New Zealand’s vibrant tech innovation ecosystem to meet, share ideas and find new ways to work together.
“Techweek is when everyone in the tech sector can showcase the amazing innovation that is taking place in Aotearoa,” Gill says.
“Techweek2020 marks the fifth year, with the first iteration of Techweek including 55 events attended by 10,000 people in Auckland. It has now grown to become a nationwide event that attracts over 46,000 attendees around the country. The theme this year is ‘Connecting our future’, which recognises that as we begin a new decade, we need to be thinking long-term about how new technology is impacting our nation.”
There are three distinct pillars of activity during Techweek – community, education and business – and submissions are welcome from organisations with ideas for events that support one or more of these pillars. Events can vary from major conferences to small meetups on niche topics, hackathons, workshops and networking events.
“Whether it is a two-day conference with multiple speakers or a 30-minute pitch session for fledgling start-ups, we’d love to hear from anyone interested in taking part,” Gill says.
Gill says she is delighted that AUT and Callaghan Innovation have once again signed on as strategic partners, and that ANZ Bank and Chorus are Festival Partners for Techweek2020. For ongoing updates and information about Techweek2020, visit www.techweek.co.nz.
Regional and Rural Schools take out National Digital Titles
Smaller regional and rural schools from across New Zealand swept the National Finals for the Tahi Rua Toru Tech in-school challenge this year.
The 2019 National Winners were announced at a gala event at TSB Arena in Wellington, following 10 regional finals held across New Zealand in October. The National Finals were attended by the regional winning teams with students coming from around the country.
As part of the Tahi Rua Toru Tech Challenge, teams of 3-4 students find a problem in their local school or community and use digital technologies to solve it. Teams are paired up with tech industry mentors and given support and resources. Over 6500 students participated in the Challenge this year.
IT Professionals New Zealand CEO Paul Matthews said today that “Regional and Rural New Zealand were the winners this year, with winning teams coming from Hāwea Flat near Wanaka, Morrinsville, Rotorua and New Plymouth”.
At the Discovery level (years 0-5), Hāwea Flat School’s Team Happy Hawea took out the title, completing a set of challenges in the fastest time. It came down to split-seconds in the end and was hotly contested.
Morrinsville Intermediate’s Team Thunderbolts took out the First Challenge (years 6-8), creating an app game to encourage fitness by getting the user to move around Morrinsville to scan QR codes whilst seeing the ‘Herd of Cows’ (sculptures) on display within their town.
John Paul College, Rotorua’s Team ShumbaLeon won the Secondary level (years 9-10), created a website showcasing cultural diversity in their school and a platform for students to share their own stories and culture with other students.
And Sacred Heart Girls College, New Plymouth’s Team Red took out Senior Secondary (years 11-13), creating a medication box that sends bluetooth messages to your phone to remind you to take your medication, and has a motion sensor and lock and software designed to reduce under or overdosing.
The Ministry of Education’s Deputy Secretary for Early Learning and Student Achievement Ellen MacGregor-Reid helped announce the winners and was seriously impressed by the level of innovation. “A huge scale of learning has clearly gone on in the challenge. The majority of the students didn’t know how to write any code at the start – and yet that was such a stand-out feature of the innovations I’ve seen,” MacGregor-Reid said.
As part of the National Finals, the Digital Technologies Teachers Aotearoa (DTTA) and IT Professionals New Zealand recognised an influential teacher who has made a huge difference to digital tech. This year the Ali Chivers Teacher Influence Award went to Julie MacMahon from St Hilda’s Collegiate School in Dunedin.
“I’ve known Julie for several years, working with her on bringing about the changes to the Digital Technologies curriculum. She’s an inspiring and energetic teacher who contributes so much to her students and their profession,” Matthews said. “A very worthy choice.”
The Challenge will enter its third year in 2020 and is part of a suite of resources and tools to help teachers and schools implement changes to Digital Technologies and Hangarau Matihiko in the Curriculum in a safe and supported way.
ENDS
About Tahi Rua Toru Tech
Partnering with the Ministry of Education, the IT industry is supporting the introduction of the new Digital Technologies & Hangarau Matihiko (DT&HM) curriculum into schools and Kura with the 123Tech Challenge.
In the challenge, small teams of 3-4 students complete a project-based challenge either in-class in schools, or through a local Code Club. Most will complete it as a classroom activity, but the model caters to both. The 123Tech Challenge is for everyone, not just tech geniuses (although they’re welcome too!). Schools are also partnered with an industry mentor, and the Challenge provides all the guidance and support students need to make a real difference.
Tahi Rua Toru Tech is being delivered by a partnership of not-for profit organisations led by IT Professionals NZ and started in its current form in 2018.
The National Finals were held on Thursday 5th December 2019.
To learn more about Tahi Rua Toru Tech visit https://123tech.nz
To learn more about Digital Tech/Hangarau Matihiko, http://education.govt.nz/digitech.
Government’s proposed Landfill Levy increase will have no impact on plastic waste
This week the Government announced a long awaited and welcome proposal to increase the landfill levy in order to encourage behaviour change away from dumping to more recovery, recycling and reuse. However, the increased levy will have no effect on the volumes of plastic waste entering the economy, our landfills and the environment, according to plastic2parliament.
“Currently plastics account for around 8% of total waste by weight, but as much as 20% of landfill by volume and that’s an enormous proportion of the waste problem.” said Wade Bishop, initiator of the plastic2parliament letter writing initiative. (Ref. Recycle.co.nz)
“With the landfill levy based on weight there’s no incentive in this to move away from plastic packaging or other avoidable plastics that end up in our landfills and environment.” Wade Bishop said.
Plastic2parliament is encouraging New Zealanders to ask all political parties what their plastic reduction policies are by penning letters to MPs in Parliament, via the Parliamentary free-post address while also stuffing their large envelopes full of non-recyclable plastics to illustrate the plastic waste problem.
“We are asking political parties and Government to focus regulation on the producers of plastic packaging targeted at simply making less of it.” said Bishop.
The global oil industry is currently investing US$180 billion in new plastic production plants to increase production by 40% in the next 10 years. This immense supply-pressure will create a further explosion in plastic volumes here in New Zealand and the increased landfill levy will have zero effect on that. This is an over-production issue that needs urgent regulation where the problem starts: the producers.” he said.
The Plastic2parliament initiative believes that an immediate impact can be made on plastic waste by extending bans across wide categories of avoidable single-use plastics, such as cutlery, dishes, cups, takeaway containers and even bubble and pallet wraps.
The initiative also advocates a Plastic Tax on imported virgin plastics used to manufacture single-use packaging and on imported new plastic packaging.
“While the landfill levy will have a negligible effect on the cost of dumping plastic packaging for New Zealanders, it still gets under your skin having to pay even more to get rid of a toxic waste that you didn’t ask for in the first place.” Wade Bishop said.
Plastic2parliament continues to grow quickly with membership numbers of the Facebook Group reaching more than 1000 people sending more than 720 letters and plastic parcels to MPs since beginning in early October this year, including another 90 to Minister for the Environment, David Parker, this week.
ABOUT PLASTIC2PARLIAMENT
Plastic2parliament is a letter-writing initiative started by Wade Bishop of Christchurch which encourages New Zealanders concerned about single-use plastics to include these products with their letters to M.P.s using the Parliamentary Free-post address. The purpose of the initiative is to creatively emphasise how these non-recyclable products cannot be avoided by consumers and that the actual cause of plastic waste is over-production and use by manufacturers. We seek to have M.P.s advocate for meaningful plastic waste reduction policy within their respective Party focused on packaging producers.
Oil companies are investing US$180 billion right now to increase virgin plastic production by 40% before 2030. This enormous supply pressure has already created an explosion in single-use packaging globally. New Zealand will not be immune to these supply pressures and is poorly placed to deal with the waste volumes that will eventuate. (Ref. theguardian.com; and sciencemag.org)
Climate Change and Mental Health top priorities for Port Hills nomination – Joe Davies
I’m standing to represent the millennial generation and to broaden the debate around mental illness and climate change, Labour Party member Joe Davies said today.
Joe Davies is a 25 year old activist and a member of the Port Hills Labour electorate committee. Mr Davies was formerly the Head Boy at Linwood College through the 2011 earthquakes and at 19 he was elected on to the Hagley Ferrymead Community Board. After completing one term on the Community Board Mr Davies decided to pursue a career in nursing.
“I’m currently coming to the end of my nursing education and its given me a deep insight into the health of our people,” Mr Davies said.
“I have been impressed by the work of the Ardern Government in dealing with chronic underfunding from the Key Government era and giving our health workers greater facilities and resources.”
Davies says that if he is unsuccessful in the race to become the next Labour Port Hills nominee he will enter psychiatric nursing at Hillmorton Hospital.
“Those that end up as inpatients at specialist mental health services are some of the most traumatized and vulnerable people you will ever meet. We have to do everything we can to give them the tools to recover and contribute to society.
“I’m putting myself forward for the vacancy created by Ruth Dyson who has been a wonderful community focussed parliamentarian, because I want to be part of this Government that is reshaping our mental health system.
“I have also been inspired by the youth movement that is winning office across New Zealand.
“You only need to look at the local government election results to see that the voters are wanting to pass on the baton to competent young candidates.”
Davies is also standing to broaden the debate around climate change.
“Voters in the Port Hills are switched on about the environment and the need for action on climate change. I believe that I can best represent their interests both for the Labour nomination and the upcoming 2020 General election,” Mr Davies said.
For more information:
Joe Davies – (027) 552 1295
Expat Brit Makes Extra $280,000 on Pension by Transferring to New Zealand
The on-going Brexit negotiations and subsequent demise of the UK exchange rate have left many British expatriots who have moved to New Zealand wondering what to do about their UK pensions.
Should they wait for a more favourable exchange rate, or bite the bullet and transfer their pensions now – knowing that it could get far worse before it improves?
Alison Renfrew, pension transfer specialist at Lyford Investment Management, has been advising British expatriots for 17 years on their options for transferring their pensions. She recommends that with some exceptions, transferring now is probably the better option.
Why?
“Firstly, if you’re worried about the exchange rate, you can keep your funds invested in GBP and convert them into NZD years in the future,” says Renfrew.
“More importantly though; pension transfer values seem to be really high at the moment.
“I advised a client earlier this month that her transfer value had increased by 25% in just six months. She now has another £145,168 ($281,776NZD) to transfer. This is phenomenal”.
Renfrew has not seen such a dramatic positive change in transfer values before.
On the very same day, Renfrew had a conversation with another client about her pension transfer value. She was offered a Cash Equivalent Transfer Value (CETV) of £59,731, or a pension of £900 p.a.
You would have to receive £900 p.a. for 66 years before you broke even – before you saw any investment returns from your retirement savings.
“It is 100% illogical to accept such a lousy deal,” Renfrew says.
When Renfrew compared current CETVs with promised pensions, she found little incentive to choose to have a taxable pension paid from the UK compared to receiving a far higher non-taxable income in New Zealand based on realistic investment projections.
“What Brits really don’t like is knowing that if they die prematurely their spouse will only get half of the income. In some cases, the spouse gets nothing”.
A major benefit of taking control and investing your transfer value to provide you with a retirement income is that you can access your money if you need to. Conversely, there’s no access to your retirement pot if you’ve elected to take a pension.
“Where is your financial security if you can’t access your money in an emergency?” Renfrew asks.
There are a couple of exceptions, of course.
Renfrew cautions Brits and returning Kiwis not to transfer their pension funds if they are uncertain where they’ll live for the five years after they have transferred their pension funds to NZ, due to tax obligations.
Renfrew further cautions that before deciding to transfer you need professional advice to ensure that all your options have been considered.
“Maybe you are one of the few who have a very attractive pension, and converting to cash would be madness.
“You really need to seek independent advice from a New Zealand investment adviser specialising in pension transfers before making the decision to transfer, because individuals simply don’t have access to the same resources advisers do. It’s important to make informed choices.”
Alison and Richard Renfrew of Lyfords have been specialising in UK to New Zealand pension transfers for over 17 years. Visit their website to find out more.