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UXC gets Lucid

ASX-listed integrator makes its second acquisition in a week

ASX-listed integrator, UXC, (ASX:UXC) has made its second acquisition in a week, picking up ITIL consulting company, Lucid IT, for an undisclosed sum.

Sydney-based Lucid IT offers specialist skills in best practice IT standards and frameworks such as Information Technology Infrastructure Library (ITIL), ISO20000, Cobit and MOF.

UXC plans to retain all 35 staff and will look to increase overall headcount. Co-founder and managing director, Hans Schipof, is staying on-board to run Lucid IT as a business unit of UXC's consulting division.

The purchase price is based on current earnings and includes a mixture of cash and shares.

UXC Business Solutions Group managing director, Cris Nicolli, said corporate and government customers were increasingly demanding best practice capabilities around IT infrastructure.

"With the complexity of the work we are doing with clients, we wanted to have top level ITIL capabilities," Nicolli said. "Part of our game plan is to continue to build up high level services, reporting and consistency. Lucid IT gives us a piece of that puzzle, which fits particularly well with some of the government customer deals we're winning."

Lucid IT has staff in NSW, Victoria, the ACT, Queensland and Western Australia. It recorded annual revenue of $6.5 million during 2007. Key customers include ANZ Bank, Qantas, Melbourne Water, ING Australia and the Department of Foreign Affairs and Trade.

"We have used Lucid IT occasionally for contracts - there's not a lot of customer overlap," Nicolli said.

Lucid IT's Singapore office also gave UXC a stepping stone in the Asian market, he added.

The acquisition comes less than a week after UXC purchased the Australian arm of Getronics. Nicolli said Lucid IT's ITIL capabilities will give added depth to Getronics' services.

UXC has at least two more acquisitions are on the cards, with the next due to be announced later this month, Nicolli said.

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More about: ACT, ANZ, Department of Foreign Affairs and Trade, Getronics, ING, Lucid IT, Qantas
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