ASG acquires Exceed for $10.2 million

ASG acquires Exceed for $10.2 million

Perth-based Amcon Solutions Group (ASG) has announced a $10.2 million acquisition of fellow service provider Exceed System Integration.

CEO, Geoff Lewis, said this acquisition would enable ASG to strengthen its national delivery capability and challenge multinational service providers.

Recent growth had coincided with unrest among government customers of the big American service providers, he claimed.

"Both ASG and Exceed have been the beneficiaries of that kind of unrest and that's how we have grown. Our differentiator is that we are local decision makers," Lewis said.

A six-month integration plan will follow December's finalisation of the deal to acquire Canberra-based Exceed. Lewis said he expected redundancies to be minimal among its 85 staff and confirmed Exceed managing director, Chris Thompson, would be staying on.

ASX-listed ASG announced a $7 million share issue to help pay for the acquisition, which Lewis said would give the company revenues in excess of $40 million.

ASG is an Oracle and Microsoft partner with 97 per cent of its revenues coming from services provided to its main sectors of government, health and mining.

The company was bullish about prospects and had some significant government deals in the pipeline, Lewis said. Last month, it announced it had been selected as a preferred supplier for the WA government Shared Services Centres.

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