Cirrus Networks wins $1.6M networking deal with Austrade
- 16 March, 2018 13:11
Cirrus CEO, Matt Sullivan
Cirrus Networks (ASX:CNW) has won a $1.6 million networking maintenance and support contract with the Australian Trade and Investment Commission (Austrade) through its recent acquisition, Correct Communications.
The publicly-listed IT services provider told shareholders on 16 March that the new deal was won via a competitive tender process.
The deal will see Cirrus, via its Correct Communications subsidiary, supply equipment relating to Austrade network requirements, including associated maintenance and support. The company said it represented a key strategic win for Correct Communications.
“We are pleased to have won this competitive tender and to be able to work with such a high quality government agency,” Cirrus CEO, Matt Sullivan, said. “This win continues the early success for Correct Communications and highlights the value the acquisition has brought to the group.
“With a team of high quality staff and a focus on innovative value add solutions for clients we are very confident in achieving further growth in Canberra,” he said.
Cirrus Networks announced in November last year it had struck a deal to acquire Correct Communications, a Canberra-based systems integrator, in a share purchase agreement set to be worth up to $5 million.
Founded in 2010, Correct Communications had made a name for itself providing networking, storage, security and unified Communications infrastructure to Government and large enterprise customers in the Canberra region.
The company counts Microsoft, Cisco Hewlett Packard Enterprise (HPE), VMware, Palo Alto Networks and NetApp among its vendor partners.
“This is a key acquisition for Cirrus addressing a number of our strategic focus areas while accelerating our greenfields Canberra operation,” Sullivan said at the time.
The acquisition came several months after Cirrus Networks struck a multimillion-dollar deal to acquire Victorian IT solutions provider, NGage Technology Group.
The move was expected to address a number of the publicly-listed Perth-based IT solutions integrator’s strategic focus areas of targeted geographical expansion, market share growth and annuity growth.
In August last year, Cirrus Networks flagged plans to continue assessing strategic geographic and competency-based acquisitions after coming off a strong 2017 financial year.