Delicious/delimiterau
- Dell chief defends transfer pricing
- Qantas tech exec shifts to Jetstar
- Zurich Australia leads regional thin client push
- Early investors drop Facebook
- Victoria kills HealthSMART IT project
- Woz not great - mUmBRELLA
- Santos' thin client starts big-data plans
- Nokia Lumia 800 revs up at Bridgestone
- Telstra privacy breach was 'one little oops'
- 'Battleground of the future' the focus of new agreement with US
News - Written by Renai LeMay on Tuesday, June 1, 2010 11:28 - 0 Comments
ASG buys IT consulting firm Capiotech
Perth-based IT services group ASG has picked up IT consulting firm Capiotech for about $30 million, bringing 90 staff on board and enhancing the company’s business intelligence capability.
ASG chief executive Geoff Lewis said in a statement that his company had pursued a deliberate strategy of boosting its skills in certain high-value areas. “We set out to build our capabilities in business intelligence, SAP and consulting – and we’ve now delivered on this,” he said.
“At the same time, we’ve invested heavily in our next wave of contract growth, with major wins in recent months with customers such as the Department of Prime Minister & Cabinet, Western Power and the Western Australian Department of Education,” he added.
ASG and Capiotech currently work alongside each other in at least one company – Qantas – and Lewis said the acquisition represented a “natural progression” in that working relationship. “We expect a number of ASG’s existing clients will be attracted to the enhanced service offering and capabilities that this acquisition delivers,” he said.
Capiotech’s client base also includes ANZ Bank, Commonwealth Bank, Macquarie Group, NAB, Vodafone, Origin Energy, CSL and the Queensland Department of Transport and Main Roads.
The purchase price is expected to be $30 million and is based on a multiple of five times average earnings before interest and tax (EBIT) for the 2011 and 2012 financial years. It will be paid in a combination of cash and scrip in three instalments though August 2012.
ASG has also recently acquired two other companies – IT consulting group Dowling Consulting and SAP specialist Courtland Business Solutions. The Capiotech buy is expected to deliver underlying earnings per share accretion of 15 percent, ASG’s statement said, in the 2011 financial year. Lewis also noted ASG had already won $112 million in new contracts since January 2010.
The news today produced a modest recovery in ASG’s share price, which had spiked downwards along with other IT services companies over recent weeks.
Image credits: ASG and Delimiter screenshot of E*TRADE website
Related posts:
- Consulting firm ditches Google Apps for BPOS
- Ovum nicks Intermedium’s consulting chief
- Independents firm with NBN favour
- ASG doubles up with Courtland acquisition
- Atlassian invests in Dutch SaaS firm
| Tweet | |
![]() |
Enterprise IT, Featured, News - May 23, 2012 12:54 - 0 Comments
SAP’s SuccessFactors deploys Aussie datacentre
More In Enterprise IT
- Govt pushes ahead with cloud-sharing approach
- The ABC didn’t sack Bitcoin miner
- Victoria dumps HealthSMART e-health project
- HP completes giant new NSW datacentre
- Microsoft beats Salesforce to utility CRM deal
Analysis, Telecommunications - May 23, 2012 11:08 - 5 Comments
The NBN, service providers and you … what could go wrong?
More In Telecommunications
- NBN here to stay under Coalition, says analyst
- iiNet ramps up Internode digestion
- China concerned by Huawei NBN ban, says Bob Carr
- Parliament knocks back surveillance terms
- Evidence: Rural Australia is demanding the NBN
Gadgets, News - May 21, 2012 12:32 - 5 Comments
Galaxy S III listed for Telstra, Optus and Vodafone
More In Gadgets
- Will Telstra skip Nokia’s Lumia 900?
- New BlackBerry OS 7.1 hits Australia
- ASUS Transformer Pad tablet hits Australia
- HTC One XL on sale: Compatible with Telstra 4G
- Optus a “disgusting” company, says AFL chief
Reviews - May 7, 2012 18:16 - 2 Comments
Telstra Mobile Wi-Fi 4G: Review
More In Reviews
- Samsung Galaxy S III: Preview
- HTC Titan II 4G: Preview
- Nokia Lumia 710: Review
- Sony Xperia S: Review
- Samsung Omnia W: Review










sponsored post ING Direct recently implemented a private cloud solution to virtualise its entire banking platform, allowing it to provision a new copy of itself -- a so-called 'bank in a box' -- within minutes. 
Leave a Comment