Northerners snap up a GEM
- 27 September, 2000 12:37
Danish business consulting firm Aston IT Group has found an opening in the Asia Pacific market through its acquisition of Sydney based integrator GEM Integrated Solutions.
James Manche, former managing director of GEM Integrated Solutions, told ARN the take over was mutually accepted.
"We had been looking for appropriate corporate partners for approximately 12 months. We came into contact with Aston, there is a mutual exchange of intentions and it was decided that the deal would be mutually beneficial," Manche said.
The takeover involved a share option swap. GEM Integrated Solutions' four owner-partners involved agreed to swap their shares in the company for shares in the Danish group.
According to Manche, Aston Group will continue to deliver tailored e-business solutions based on Great Plains' eEnterprise solution and maintain many of the company's current business relationships.
"Aston holds very loose reigns, we are not receiving orders from Denmark, the structure of the group is such that we can still control much of the business locally," he said.
Manche told ARN that Aston was in the midst of an aggressive acquisition campaign that saw the company grow very quickly.
He believes it is still looking for acquisitions in the Asia Pacific region, and will continue to expand the business in the run up to an IPO planned in roughly 12 months time.