Communications integrator, Brennan IT, has bolstered its expansion plans into the mid-market by acquiring Victorian-based Tele-IP.
Tele-IP is an NEC telephony dealer and provides services around PABX, VoIP, maintenance services, handsets and other telephony hardware. The acquisition cost includes $1 million in goodwill as well as the purchase of assets for an undisclosed amount. Tele-IP's satellite business have not been purchased by Brennan IT, and will retain a separate identity.
Brennan IT managing director, Dave Stevens, said the acquisition went hand-in-hand with its acquisition of Queensland-based NEC dealer, TSA, in October last year. He claimed Tele-IP made Brennan's NEC business four times larger than the nearest competitor.
Tele-IP has 35 staff, all of which will be retained. Stevens said part of the deal was that Tele-IP would be fully integrated under the Brennan banner from day one.
Stevens said the company was hoping to make another two or three acquisitions this calendar year, including one large (200+ staff) firm.
"Our strategy is to build out our capabilities across the country. We want to acquire a company in South Australia next to round out our eastern seaboard presence," Stevens said. Brennan is also looking for an ERP implementer, which Stevens said would fit nicely with its strategic positioning.
Brennan now has more than 200 staff based in Sydney, Melbourne and Brisbane, and was listed in BRW's top 10 fastest growing companies in 2007.