SAP software and services integrator Oxygen Business Solutions has acquired Australian SAP consulting firm, Stream Technologies.
Oxygen Business Solutions is owned by ASX-listed UXC.
The deal will be completed by the end of August. Terms weren't disclosed.
“As a specialist SAP software and services company operating across Australia and New Zealand, Oxygen is investing in people and resources to ensure we have the breadth and depth, and the scale that the rapidly growing SAP market requires,” Oxygen CEO, Stuart Dickinson, said in a statement.
The Stream acquisition adds about 40 SAP-trained consulting and support staff. The two businesses are highly complementary with no overlap in sales pipeline.
Oxygen will also benefit from Stream’s customer base and new software sales revenue, Dickinson said.
Stream Technologies, founded in 2006, has about $10 million I annual revenues. It has offices in Sydney, Melbourne, Brisbane and Perth. It provides SAP enterprise resource planning, Netweaver, business intelligence and SAP software sales, integration and support.
Dickinson added the acquisition is in line with the strategic growth plans of Oxygen’s parent company, UXC which aims to boost its brand and market share in the ERP application market.