ASX-listed reseller, Anittel, (ASX:AYG), has purchased Townsville-based IBM reseller, Future Townsville, for an undisclosed sum.
Future Townsville has been operating since 1995 and was established by Scott and Amanda Spaulding. Besides maintaining a relationship with IBM, it also partners with VMware, Lenovo, Toshiba, NetBox Blue, Microsoft and Cisco.
The acquisition is part of Anittel's strategy to enhance its regional play and will be funded by the company's cash flow.
“We’re making small acquisitions through our cash flow and over the next 12 months we plan to look at opportunities in that space rather than larger acquisitions,” Anittel managing director, Peter Kazacos, said.
"It's all part of us wanting to grow our business in existing regional areas as well as new regional areas. If we can grow our scale and depth, we can get more customers, and service them better."
As part of the acquisition, Future founder, Scott Spaulding has been appointed as the national IBM and northern region manager.
Kazacos said having regional hardware service and support personnel was a valuable addition to its capability.
"Customers still want their equipment serviced, if they have to ship it interstate or have someone fly in to fix it, that doesn't help," he said. "We've got the support people to do the hardware maintenance as well."
As part of the acquisition, Anittel would be bringing about eight staff across and Future will come under the Anittel banner.
For the 2010 financial year ending June 30, Anittel recorded a net profit loss to the tune of $19.9 million. Cash in bank was $2.6 million, up from $800,000 in the previous year.
At the time, Kazacos said it set out plans in the upcoming financial year to consolidate and refocus its operations during the next six to nine months. It is expecting only small revenue growth in FY12 and a turnaround of recent losses to a positive EBITDA outcome.