in brief ComputerCORP today said it would buy fellow IT services companies S Central and Synergy Plus, a Hyro subsidiary.
S Central and Synergy have 90 and 32 staff located around Australia, who will join ComputerCORP as part of the deals.
The Synergy acquisition will cost ComputerCORP between $6.5 million and $9.3 million, depending on the company's profit performance over the next three years, while S Central will be acquired for $1.18 million in shares and $5 million in convertible notes. S Central's shareholders will wind up owning about 30 per cent of ComputerCORP.
ComputerCORP said in a statement that the deals would give it to the capability to provide total end to end solutions or managed services from the large high-end datacentre to the personal system user around Australia, and a total of 330 full-time staff. Customers brought with the acquisition include household names like Virgin Blue, Telstra, St George Bank, Tabcorp, Rio Tinto, NSW Health, Coles, Toyota, and Bluescope Steel, amongst others.
Interesting enough the company has also recently retrenched half a dozen staff this week in the Melbourne office (S Central) and others have been retrenched in the past few months in other parts of Australia. Many other staff have left the company of their own accord and their positions have not been replaced.
Seems the company may not be going as well as they make out :)