Red Rock, which claims to be the "largest independent Oracle solution and consulting service provider in Australia and New Zealand," will now focus on acquiring two Australian technology businesses "within the next 12 to 18 months" as a part of its growth strategy, which is described as being "closely aligned" to that of USX.
Red Rock's original four owners will continue to manage the company as a business unit operating within UXC's Business Solutions Group. UXC executive chairman, Geoff Lord, today said the acquisition of Red Rock will allow the company to bring its Business Solutions Group and Utility Services Group closer together as the utilities side of the business moves "towards increasingly technology based, data-oriented solutions". The acquisition will assist UXC in making the transition, he said.
"We have high expectations of the role that Red Rock can play in this," Lord said in a statement issued to the ASX.
During the last calendar year, Red Rock racked up earnings before interest and tax of AU$2.25 million. Red Rock Consulting managing director, Greg Woollett, described the acquisition as "great news for Red Rock, its customers and staff".
"Operationally it will be business as usual for Red Rock, however we can now deliver a wider range of services with the backing of a strong listed company," he added.
