Powerlan's enviable buying spree appears far from over with the company set to acquire data storage outfit XSI Technology for $10 million.
The deal follows Powerlan's announcement to the ASX on Monday that it has acquired Queensland systems integrator Sunrise Computer Group for an undisclosed sum.
According to a report in the Sydney Morning Herald this morning, Powerlan is expecting to announced the fifty-fifty cash and scrip deal this week, giving the company a foothold in the booming storage market.
Meanwhile, Theo Baker, Powerlan's CEO, explained the Sunrise acquisition will help fulfil the company's ambition to build a solid national presence. In addition to the support it will offer Powerlan's existing Queensland customers, Sunrise will boost the group's training skills. Sunrise itself recently acquired Brisbane-based training company Ace.
Baker said Powerlan approached Sunrise as one of the last acquisitions it needed to make in Australia before refocusing its attention on Asia.