Synergy has entered into a heads of agreement with Airway Group to acquire AirData and its wholly owned subsidiary, AirData Australia.
The acquisition is conditional on the two parties finalising a formal business sale agreement and the satisfaction of certain conditions including due diligence.
Further details on the price of the acquisition will be provided once the formal business sale is finalised and the purchase price will consist of cash payments.
Synergy Plus CEO, Garry Henley, told ARN AirData had been a very focused organisation with good technical skills in the mobility market.
“We see that as a strong growth area and a very good technical niche where they’ve got some good skills,” Henley said. “We thought it would complement our business in the wireless space. It was also the right size for us.”
“We’ve known the guys for a while and it’s a market place that’s expanding like RFID, which is going to be a big area in all parts of logistics.”
Henley said the acquisition would also provide good intellectual property to help differentiate itself in the market.
“We can also provide their customers with a much broader offering around backend systems and networking, operating systems, virtualisation and the like,” he said. “It’s a very good specialised skill that’s aligned closely to what our business does in the wireless area.”
At this point in time, Henley said the AirData branding and its 30 staff will be retained. This would bring Synergy’s headcount above 310 and $180 million in combined revenues.
“We want to make sure we integrate it properly and at the right time,” he said. “I’m very conscious of making sure we get a good cultural alignment and bring them into the company in the right way. They’ve got a good reputation in this space and we want to maintain that.”
AirData has particular strengths in market areas such as retail, transport and logistics, warehousing and distribution. Some of its solutions include enabling field workers, mobile data capture, RFID, asset tracking and field service enablement. Its technology partners are Motorola, Zebra, Wavelink and Aeroscout.
It also has some big name customers on its books such as Bunnings, Toll and Star Track Express.
Synergy Plus is still on the acquisition hunt and wants to purchase a managed services company, Henley said.
“There’s nothing currently on the table, but we’re in the market for a well run mid-tier infrastructure managed service business that’s somewhere in the $30-$40 million space,” he said.
Synergy recently acquired CP&A in South Australia.