Atturra (ASX:ATA) acquires OpenText partner, Hayes

Be the First to Comment Read

Atturra (ASX:ATA) acquires OpenText partner, Hayes

Atturra Limited (ASX:ATA)
Image source: © Ipopba | Megapixl.com

Highlights

  • Atturra, via its subsidiary, Anatas Pty Ltd, has completed the acquisition of Hayes Information Systems and Communications Pty Ltd.
  • Hayes is an award-winning OpenText partner.
  • As per Atturra, the acquisition will make it a market leader for OpenText’s ECM (Enterprise Content Management) in Australia.

ASX-listed software and services firm, Atturra Limited (ASX:ATA), has acquired Hayes Information Systems and Communications Pty Ltd today (2 June 2022). Atturra has acquired Perth-based Hayes through its subsidiary unit Anatas Pty Ltd.

Hayes offers digital transformation services, information management consultancy and ECM (Enterprise Content Management) application support services. Also, the company offers functional and technical support 24x7. Hayes is an award-winning OpenText partner. OpenText, listed on NASDAQ and Toronto Stock Exchange, is a world leader in information management. It solves digital business challenges for small and mid-sized businesses as well as big and complex organisations globally.

Meanwhile, Atturra was spotted trading last at AU$0.750 per share on the ASX with a market capitalisation of AU$150.41 million.

Details about the acquisition of Hayes

Through ASX-announcement, Atturra informed that the upfront consideration for the transaction is AU$8.50 million in cash. The transaction includes an earn-out-completion consideration of around AU$7.89 million. The earn-out-consideration is subject to Hayes achieving key employee retention-related metrics and performance hurdles.

Atturra’s management said that the transaction would be funded through internal cash reserves.

Suggested reading: Will the RBA go for aggressive rate hikes as Q1 GDP exceeds estimates?

Why has Atturra acquired Hayes?

Image source: © 2022 Kalkine Media®

Atturra is a technology business that provides IT services and solutions and enterprise advisory consulting services. The company focuses on manufacturing, utilities, financial services, education, local government and federal government.

With Hayes’ acquisition, Atturra will be able to expand its data services portfolio. According to Atturra, it will become a market leader in Australia for OpenText ECM.

The transaction will assist the company in expanding its operations to Western Australia. In addition to this, Hayes will complement the data and integration practices of Atturra by enhancing its ECM capabilities, supported by compliance and governance.

Management commentary

Stephen Kowal, CEO of Atturra, commented on the completion of the acquisition:

Image source: © Transversospinales | Megapixl.com

Atturra informed its shareholders that the acquisition would have a negligible impact on the full-year results of 2022 because of one month of integration and trading costs.

Must read: Here’s why Australian property prices fell for the first time in two years

Disclaimer

Speak your Mind

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK