BigAir buys Applaud IT

BigAir buys Applaud IT

For $1.2 million in cash

BigAir's Jason Ashton

BigAir's Jason Ashton

ASX-listed BigAir Group (ASX:BGL) is toughening its stance within the mid-market arena through acquiring managed services provider, Applaud IT.

BigAir will pay $1.2 million in an all-cash consideration, which will be funded from existing debt facilities.

The deal enhances Big Air’s service desk, managed and Cloud services capability.

The acquisition will be completed in July and Applaud will operate as a wholly owned subsidiary within BigAir Group.

BigAir anticipates Applaud will generate between $6 million to $7 million in revenue and an EBITDA of at least $700,000 during FY16.

Earnings and revenue from the Applaud customer base will increase in subsequent years through cross-selling opportunities with the wider range of BigAir communications services.

More to follow.

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