Atturra Expands Horizons with Key Acquisitions in New Zealand and Australia

December 02, 2024 12:08 PM AEDT | By Team Kalkine Media

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Atturra Expands Horizons with Key Acquisitions in New Zealand and Australia — Image source: shutterstock

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Highlights

Atturra (ATA) acquires Plan B, a managed services provider, to expand into New Zealand.

Additional acquisition of Chrome Consulting strengthens enterprise content management capabilities.

These strategic moves aim to enhance Atturra’s service portfolio and geographical footprint.

Atturra (ASX:ATA), a prominent technology services provider, has announced a major step in its expansion strategy by acquiring Morgan Holdco, known as Plan B. The acquisition is set to bolster ASX technology stock Atturra’s managed services offerings in New Zealand, leveraging Plan B’s established presence and infrastructure in the region. This acquisition will be executed through Atturra’s subsidiary, Cirrus Networks, with an upfront cash payment of approximately $18.16 million.

Plan B operates five key data centers across New Zealand’s North and South Islands and serves over 1,000 clients across Australia and New Zealand. Its high level of recurring revenue and diverse customer base make it a valuable addition to Atturra’s portfolio.

Atturra’s chief executive officer emphasized that the acquisition aligns with the company’s ambition to lead in managed services while expanding both geographically and in capability. The deal includes an earn-out component of up to $4.09 million, contingent on achieving specific financial milestones by the fiscal year 2025. Integration costs are projected to be around $580,000, and the overall transaction values Plan B at a multiple of 6.2 times its forecast EBITDA.

Plan B’s chief executive welcomed the collaboration, noting the shared focus on customer success and innovation. The acquisition is expected to close this week, marking a significant milestone in Atturra’s expansion efforts.

Complementing Capabilities with Chrome Consulting

Further strengthening its portfolio, Atturra also announced the acquisition of Melbourne-based Chrome Consulting through its subsidiary, Anatas. The deal, valued at $3.6 million, is designed to enhance Atturra’s data and integration practice, particularly in enterprise content management (ECM).

Chrome Consulting specializes in OpenText ECM, a key area that Atturra aims to lead within Australia. This acquisition is expected to bolster Atturra’s ability to serve systems such as SAP and Microsoft landscapes, complementing its existing data services.

Atturra’s leadership described the move as part of a broader strategy to focus on leading technologies and deliver top-tier solutions to clients. The integration of Chrome Consulting into Atturra’s operations is set to provide clients with expanded governance and compliance capabilities.

These acquisitions underscore Atturra’s commitment to strengthening its market position and delivering value-added services across Australia and New Zealand.

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