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At the end of 2024, Jackson Allan founded Touchstone Point to acquire an Australian SME. He has now successfully completed his search with the buyout of PassMark Software. Thirteen investors participated in the transaction, including Wayfinder, Dorado, Ventus Capital Partners, searchers such as Joao Diogo Stoffel, Alex Simmons, and Amitabh Mahendran, as well as a group of HNW individuals and families, including Thalor Capital. Acquisition debt financing was provided by National Australia Bank. Founder David Wren will remain a shareholder and support the transition of ownership and technical leadership during the first year and beyond.
Founded in 1998 and based in Sydney, PassMark Software specializes in the development of benchmarking, diagnostic, and performance-testing tools for hardware and software systems. The company is internationally recognized for its solutions used to evaluate the performance of computers, memory, and complete systems. Its best-known products include PerformanceTest, BurnInTest, and MemTest86, which are widely used by IT professionals, businesses, and advanced users. Major clients include U.S. law enforcement agencies, OEMs such as Apple, Dell, Intel, and AMD, as well as major PC assemblers, leading RAM manufacturers, and chip designers worldwide. The company employs 14 professionals across Australia and the United States and has achieved annual growth of approximately 10% over the past five years, reaching revenue of around US$3M with very strong margins.
Jackson brings extensive experience in commercial leadership and scaling international businesses and is relocating to Sydney to lead PassMark. “PassMark is a trusted brand that has been built over more than 25 years on technical rigor and quality,” said Jackson. “Our priority is to build on that foundation and continue investing in PassMark’s products and team.”
He was attracted to the company because of its strong engineering capabilities combined with untapped potential in sales and marketing. The business is well positioned in several growing markets, including digital forensics, USB form-factor devices, and computer components, all of which are expanding at high single-digit growth rates or higher.
Legal: Law Squared / Financial DD: Stannards / Debt: Balmaghie Pty Lds / Tech DD: Spellbound Partners & Genesys Electronics Design
