IT services provider, DWS Advances Business Solutions (ASX: DWS), has entered into an agreement to acquire Taten, a provider of data capture systems.
The deal is worth $300,000 and is expected to be completed by June 29.
The draw for DWS to acquire the company was Taten’s existing client base of businesses that have made use of cloud-based solutions, a client base that DWS hopes to grow even further to new markets with the help of its own national client network.
DWS has highlighted Taten’s current portfolio of Internet solutions for the financial services industry, such as iApply, iPublish, D2B and My2Ic, as potential candidates to expand into the health, government, utilities and telecommunications sectors.
The acquisition of Taten also marks the commencement of new DWS Solution Centre specialist business unit that will incorporate cloud computing solutions.
“This is an exciting time for DWS as this purchase progresses our previously announced strategy of developing four specialist business units,” DWS CEO, Danny Wallis, said.
Following an already strong performance in FY11, the strategic acquisition of Taten is expected to provide DWS with a new revenue stream and add to the company’s earnings in FY12.