Australian IT consultancy and advisory and prolific growth company, Atturra, has announced its latest acquisition, Sabervox, in a deal worth $5 million.
Sabervox is a Newcastle-based managed service provider, and focuses largely on the mid-market. Atturra has made the acquisition specifically to grow its presence in regional New South Wales, for which Newcastle is a major hub.
“The acquisition of Sabervox expands Atturra’s managed services capabilities into regional NSW,” said Stephen Kowal, chief executive at Atturra.
“We see the acquisition of Sabervox as a launchpad for further regional expansion and economies of scale associated with staffing, facilities and infrastructure.
“Sabervox is recognised as a trusted partner in regional NSW and this acquisition enhances our ambition to be Australia’s leading Advisory and IT solutions provider.”
Sabervox is not the first MSP acquisition that Atturra has made this year. In April, the company announced that it was spending $16.5 million to acquire end-to-end MSP, Somerville Group. At the time of the announcement, Atturra said that the acquisition would help the company develop a full-stack solution.
Those expanded capabilities will now allow Sabervox to bring its customers an expanded offering, and help the business target broader growth within the group.
“When we started this journey 15 years ago, we had a vision to bring quality IT services to businesses in regional areas,” said Dan Wright, managing director at Sabervox.
“With access now to Atturra’s extensive suite of services, we are confident of giving all our customers an unrivalled experience.”
Atturra’s acquisition strategy appears to be delivering for the company, with its share price rising from $0.73 dollars per share on October 4, to a high of $1.05 per share on February 6. As of September 12, the share price has settled to around $0.88.
The acquisition of Sabervox is expected to be completed on September 29, barring several conditions in the purchase agreement.