NT integrator embraces a Change
- 14 December, 2007 09:07
Northern Territory-based integrator, CSG, has acquired consulting services firm, Change Corporation, as part of plans to scale up its national footprint.
The price includes an initial outlay of $20 million, as well as five times its pre-tax profits between 2008 and 2009 and four times that figure between 2009 and 2010.
CSG CEO, Denis Mackenzie, said Change gave its applications services division critical mass and would allow it to climb higher up into the tier-one customer space. It also gave CSG, a listed company, a better geographic spread.
"Our existing applications services business in Perth addresses the SME marketplace and we see significant future growth in this sector," he said.
Change Corporation has 100 staff, with the majority in Perth. It also operates in Canberra, Melbourne and Sydney. The company provides technology consulting services to medium to large corporates as well as state and federal government agencies. Customers include Rio Tinto, Woodside and the Attorney General's AusCheck division.
CSG has been making a strong acquisitions play since listing on the Australian Stock Exchange this year. The company picked up Melbourne HP reseller, Anadex, in September and also acquired Fuji Xerox dealerships in North Queensland in June.
It has also experienced strong customer wins along the way, securing a $30 million, five-year contract with the NT Government in October.
Mackenzie said more acquisitions were planned across its applications, infrastructure and Fuji Xerox dealership divisions.