It also has an Australian office.
The selling shareholders are committed to remain with the company for three years.
"We have been in discussions with Qube Global Software for a long time and we all believe that this is the right time for this acquisition to take place," said Mr Dennehy, the managing director (Australia and New Zealand), announcing the acquisition this week.
"Qube Global Software has exactly the right mixture of experience and capability to take Vision forward. "They will offer our customers complete continuity of service and support, as well as possessing the resources and expertise to develop the product further. "We're excited at the opportunities that being part of a much bigger organisation, with a range of complementary solutions, will bring."
VisionCRE - a comprehensive integrated corporate real estate solution - and the company's other products would continue to be developed and enhanced in New Zealand, and the software will continue to be marketed under the Vision brand. But the New Zealand company would become a branch of Qube Software and be responsible for the Australasian operations, said Mr Dennehy.
"This is a fantastic acquisition for Qube as it represents a continuation of our strategy to offer a complete range of software solutions to the whole of the property and facilities management industry across the world," said John Cuppello, Qube Global's chief executive.
"Alongside our offices in the US, the Middle East and Singapore, it ensures that we have a physical presence in all corners of the globe, enabling us to provide our customers with the consistent level of service that they expect wherever they are located and to grow our market share in all regions."
Vision Software grew from unusual beginnings. Mr Nottingham was originally a vet, and got into programming as a hobby three decades ago. He had veterinary practices in Tauranga. But after buying software to help manage them, decided he could do better himself and developed a software solution for vets, which he began selling in the late 1980s.
"But I was struggling to run my practice and develop the software business, so I accepted a buyout from my partner and started working full-time on the programming in 1988."
Vision VPM became the most comprehensive integrated veterinary practice management system in Australasia and was eventually sold to Provet in 2007, the company said.
However, Mr Nottingham attributes the real beginning of the business to the arrival of Mr Dennehy, who joined him in 1994 and became a 50-50 partner when Vision Software was incorporated the following year.
"Mike changed it from a hobby to a real business," said Mr Nottingham. "He put a structure in place."
Mr Dennehy helped to develop and market Vision's first property solutions, Real Estate Manager and Property Manager.
In 1998, Vision restructured, sold the Real Estate Manager software and began developing two new products: VisionCPM (Commercial Property Manager) and VisionBCM (Body Corporate Manager). Property Manager was upgraded and became VisionRPM (Residential Property Manager).
"We found we were dealing with small real estate offices and having to spend a lot of time on support for a relatively low-priced product," said Mr Nottingham.
"It was easier to shift our efforts to the larger corporates and a different level of business."
Vision launched VisionCRE in 2007.
The acquisition by Qube would see the New Zealand company selling a wider portfolio of Vision Software and Qube products in Australasia, he said.
"Acquiring us is a good fit for Qube and will give them a big footprint in Australia," said Mr Dennehy.
What is Qube?
- UK-headquartered Qube Global Software is a leading supplier of property and facilities management software supplying more than 1000 customers worldwide. Its portfolio of products includes the Horizon, Planet and Qube software solutions. It has been in business for 40 years.
- Qube Global Software has offices in the UK, US, Asia Pacific and the Middle East. Tauranga's Vision Software will become Qube Global's New Zealand branch, with responsibility for the Australasian market.
