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Updated: Hostech buys Albury-based IT business

Updated: Hostech buys Albury-based IT business

Netrics will strengthen the resellers existing Albury operation, according to Hostech

Hostech (ASX:HTC) has continued its acquisition spree by snapping up Albury-based IT integrator, Netrics.

The ASX-listed IT and telecommunications reseller bought up a number of regional integrators including Axxis, Accord Technologies, Aspirence and Anittel in April for around $6.3 million.

Last month, it acquired D2K’s Townsville customer base for $90,000.

Netrics has been in business for more than 15 years and provide IT services to the Albury region, particularly to larger clients. It has a strong presence in the hospital sector.

“A lot of people forget regional areas have big customers and don’t just always have small customers,” Hostech executive chairman, Peter Kazacos, said. “Netrics do serve smaller customers but also do companies with a few hundred users and it has a very good reputation.”

Aspirence already covers the Albury region but the new purchase will bring in new customers and provide support to the existing team under Hostech.

Netrics principal, Jeff Dallinger, along with several key staff will be retained and will aid Hostech’s Albury team.

With Apsirence director, Mark Ilott, promoted to Hostech NSW manager, Kazacoz stressed there are a number of opportunities for members in acquired companies.

All Netrics staff will be retained.

Kazacos would not comment on Netrics’ buying price as well as specifics on future acquisition plans.

“Between now and Christmas, you can expect some more activity,” he said. “If you look at where we are and if you look at other big regional centres we aren’t in, obviously we want to be there.”


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Tags HostechAccord TechnologiesAspirenceAxxisAnnitelD2K TownsvilleNetrics

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