ASI Solutions has come out on top for revenue growth over the 2020 financial year, an industry research firm claims.
The business technology and IT services provider saw 73.9 per cent growth for the 2020 financial year, to $150.5 million, placing it first for revenue growth in industry research firm IBISWorld's 2020 Top 500 Private Companies report.
By comparison, IBISWorld categorised it in the computer system design services industry, which claimed the category saw revenue growth increase by 3.9 per cent over the same period.
ASI’s movements during the year, according to IBISWorld senior industry analyst Jason Aravanis, saw it expand its footprint in the country and abroad through its acquisitions of Forward IT and BEarena.
“ASI’s acquisition in October 2019 is likely to enhance the company’s ability to secure lucrative work in Canberra," he said "The BEarena acquisition has expanded ASI’s presence in New Zealand, with the company operating offices in both Auckland and Wellington."
He added that Forward IT has been a major provider of ICT services to the Federal Government, winning $7.5 million in contracts during the 2019 financial year.
Meanwhile, in terms of its overall revenue, ASI Solutions was ranked 393 out of 500.
Nathan Lowe, managing director of ASI Solutions, said the year ahead would provide significant opportunity for the two acquired businesses.
“We are uniquely positioned to deliver services and solutions to public and private sector organisations who want to maximise their investment in IT by working with an award-winning, Australian owned, headquartered and managed service provider. We are very excited for the future,” he said.
ASI Solutions’ ranking comes as the provider posted a new record of $120 million revenue for its 2020 financial year in July, as well as recently celebrating its 35 years in business.
“About five years ago we were a tick under $40 million in revenue, to hit just over $92 million - just the ASI business on its own - is exciting, particularly as we’ve faced a few headwinds in the market with COVID-19 and natural disasters such as the bush fires,” Lowe, told ARN at the time.