Integrator Powerlan this morning announced it has acquired Victorian-based supplier Interface Technology in a $7 million deal.
In an announcement to the Australian Stock Exchange, Powerlan said the 100 per cent acquisition is expected to generate revenues of $50 million by the end of 2001.
Interface Technology, established in 1994, offers a range of IT services to state and federal departments, including the Department of Defence and all major Victorian departments. In addition, it is Australia's largest Compaq supplier to government and has distribution agreements with Hewlett-Packard and Toshiba.
Chris Voukidis, Powerlan's director, said the purchase of Interface Technology strengthens Powerlan's position as a major IT outsourcer to government. "This is [Powerlan's] most important acquisition in Victoria by far. It strengthens our presence in Victoria significantly," he said.
Concerning integrating Interface Technology into Powerlan's overall strategy for customers, Voukidis said: "There is not a great deal to do . . . their presence in Victoria complements our presence in New South Wales."
In addition, Interface can now offer customers the full range of Powerlan products, Voukidis said. "It's a very good fit in Victoria."
Voukidis said that prior to the acquisition, Powerlan had a "very minor commercial relationship" with Interface Technology.
It is expected that all of Interface Technology's staff will be retained.