Aussie IT services group ASG has thrown down the gauntlet publicly to its much larger international rivals as it posted steep jumps in revenue and profits for the past financial year.
The grim economic outlook has caused CIOs to withhold budgets, ditch new projects and cut back on contractors, according to technology analyst firm Longhaus' Australian Technology Index for the first quarter of 2009.
IT services firm ASG Group has acquired ASX-listed Oracle database firm AD-B Group for $3 million, claiming it gives the company an in-road to lucrative defence contracts.
Australian IT services outfit ASG paid its co-founder and chief executive Geoff Lewis a total remuneration of just over $1 million in the 12 months to 30 June 2008, it was revealed today.
Two of the fastest-growing and most acquisitive IT services companies in Australia today showed little interest in buying up all or pieces of failed rival Commander, which passed into the hands of administrators last week.
The leaders of Australia's ICT industry are currently in a state of panic over the debatable prospect of an economic downturn in the sector and are going too far with cutting jobs.
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