ASX-listed professional services and consulting outfit, Ingena Group, has acquired systems integrator, VAK Consulting, for $1.175 million.
The purchase price includes $850,000 in Ingena shares and $325,000 in cash. Melbourne-based Ingena CEO, Paul Fielding, said VAK's experienced staff was a key driver behind the acquisition. Fielding has known VAK founder, Victoria Kluth, for some time.
"To find a person of Victoria's caliber, available in the market place, has been one of the driving forces for the acquisition," he said. "We took the opportunity to get her while she was in the infancy of her own company and it gave us a position, which we can now leverage, a lot better than what we could.
"We needed to do the acquisition now for our business."
Fielding said VAK would help strengthen Ingena's systems integration division as well as its internal systems.
New customer opportunities and skilled staff were also a bonus, he said.
All six VAK staff will be kept on-board. The VAK name will also be retained. Fielding hinted more acquisitions were on the cards this year.
"We are continuing to look for businesses that have the same values and are compatible with our business model that we can leverage within our current business structure," he said.