Background

NAQ Technology was formed in February 2002 following the consolidation of Netxsurance and Actionquote into a single business unit that provided internet and desktop point of sale solutions to the insurance sector. Netxsurance, a specialist in providing online internet and intranet technologies, and Actionquote, a specialist supplier of desktop software and services to the insurance industry.

Netxsurance Limited was formed in January 1999. In January 2001, Netxsurance firmly consolidated its position in the Australian insurance market with the acquisition of Actionquote. Actionquote has established its services within the Australian and New Zealand insurance markets. Actionquote has developed and implemented stand-alone quotation, POS (Point of Sale) and EDI (Electronic Data Interchange) delivery systems for Business Pack, Commercial Motor, Caravan, Marine and domestic Motor, House and Contents insurance.

The development of the NAQ Technology group was further strengthened by the acquisition of TIAS in May 2002. TIAS is Australia's best known independent B2B technology supplier to the travel industry for wholesale and retail distribution systems. Its technology is being used throughout the Australasian travel industry.

In April 2005, the group acquired the business of Inlogik. The Inlogik business specialises in the provision of expense management solutions throughout the world, supporting the SME market right up to the large multi national corporations both through its flagship product ProMaster and white label platforms.

The capabilities of the group were broadened further in August 2005 with the acquisition of Software Design Group, a provider of a Membership System solution as well as hosting services and network support. This business has since been fully absorbed into the group as NAQ IT Solutions.

The launch of a hosted Membership solution in 2009/2010 is a contination of NAQ's investment in technology to broaden its skills and capabilities in the SaaS market.

NAQ Technology, a rapidly expanding group, continues to look for quality business that will enhance its position in the provision of leading and innovative systems and services.