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DWS acquires Symplicit to expand its digital solutions offering

DWS acquires Symplicit to expand its digital solutions offering

Looks at the opportunity to capture downstream revenues from building and managing digital applications emerging from Symplicit's projects

Australian IT services company, DWS, has acquired user experience (UX) digital design and innovation consultancy business, Symplicit, for an up-front payment of $8.5 million, followed by further payments up to a total of $6.5 million conditional on adjustment of the up-front price based on final FY2015 EBITDA and EBITDA growth performance over a three-year period.

The up-front payment is based on a FY201515 EBITDA multiple consistent with previous transaction multiples announced by DWS.

The $8.5 million will be funded by cash reserves and debt.

DWS said in a statement to the Australian Stock Exchange that the acquisition would provide it with the following key benefits:

  • Annual revenue of approximately $8.5 million diversified across a range of clients and industry sectors.
  • A leading UX and digital consultancy with about 50 staff and three offices.
  • The opportunity to capture downstream revenues from building and managing digital applications emerging from Symplicit's projects.
  • The potential to accelerate Symplicit's growth by leveraging DWS' national footprint and existing client relationship.
  • An experienced management team committed to growing the business with DWS.
  • Be EPS accretive in FY2016.

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Tags user experience (UX) digital design and innovation consultancyit servicesSymplicitDWS

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