Brennan IT has shifted its gaze to NSW’s mid-north coast through the acquisition of Newcastle-based Forsythes Technology for an undisclosed sum.
According to Brennan, the deal will give it access to 150 regional businesses spanning the Newcastle and Hunter areas.
The Forsythes Technology brand will transition across to Brennan IT in the coming months.
“The acquisition of Forsythes Technology is an important pillar within our strategic plan to improve and grow our service to regional businesses,” Brennan IT managing director Dave Stevens said.
“When making the decision to acquire Forsythes Technology we identified meaningful synergies with our managed services, security and cloud products and services, and significant areas that Brennan’s existing customers will benefit from, like unified communications and mobile telecoms.”
Meanwhile, Forsythes claimed the deal will benefit its team of employees, “who will have more opportunity for career growth development, and for Brennan’s Newcastle based team to have a regional home”.
CEO Jeffrey Hughes added: “We are excited to be joining Brennan IT, gaining access to advanced, innovative tools, systems and internal business process and development teams that will enable us to scale and better service our existing and new customers.”
Brennan claimed its FY 2021 revenue increased to $120 million, with further gains predicted this year off the back of the acquisition, customer wins and new service offerings.
The deal follows Brennan IT's former CEO Stephen Sims departing the company after 14 years in November with the managed services company as original founder Dave Stevens stepped back in as a managing director.
Following this, the company recently won a new contract with elderly care firm HammondCare to supply 24/7 support services for the next three years.
As part of the deal, Brennan transitioned the company to a fully outsourced model while offering its ServiceNow-built management platform.