IT services company, ASG Group, has acquired Melbourne-based IT consulting firm, Dowling Consulting, for an undisclosed sum.
The acquisition aims to enhance the ASX-listed (ASX:ASZ) entity’s presence on the east coast and increase its consulting services capability within its managed services offering. Financial details have not been disclosed.
Dowling has 33 staff that will be kept on-board located across Sydney, Melbourne and Brisbane.
In a statement, ASG CEO, Geoff Lewis, said the acquisition was part of the company’s strategy to build its capabilities and national reach.
“We see great potential for ASG to leverage Dowling’s extensive knowledge and expertise to secure contracts for our other divisions, especially managed services,” he said.
Dowling’s customers include Australia Post, National Australia Bank, Victoria Police, Bluescope Steel, Pacific Brands, Corp Tech, Melbourne University, Adelaide University, StarTrack Express, Visy, ANSTO, Energy Australia, Nyrstar, Intact and SA Health.
ASG recently announced it had achieved a record net profit of $6.5 million for the first half of the financial year. At the time, Lewis mentioned he wanted to acquire companies in the managed service application and business intelligence space.
“We see a number of outstanding opportunities that fit ASG’s strict acquisition criteria,” Lewis said. “They would be a strategic fit with our existing business, stand to benefit from ASG’s business model and market expertise, and be earnings per share accretive.
“We expect to make further announcements in coming weeks.”