Solutions company UXC Limited has acquired reseller Keystone Management Solutions for at least $24 million as it looks to strengthen its cloud applications offering.
Solutions provider Keystone is the largest reseller of cloud software vendor ServiceNow in the Asia Pacific, according to UXC.
UXC will provide between $24 million and $28 million for the company – dependent on its performance until the 2015 financial year – to be paid in a mixture of cash and shares. Keystone experienced 35 percent revenue growth in the last financial year, according to UXC finance director Mark Hubbard.
UXC will inherit Keystone's 120 ServiceNow customers, which include the Queensland Government, insurance giant RACV, Uniting Care Queensland and the University of Western Australia.
The company will be renamed UXC Keystone and chief executive Dion Williams will report to UXC Limited managing director Cris Nicolli.
[Related: UXC Connect plucks prized account from Kinetic IT]
Nicolli said the expansion was a "compelling opportunity" to enable the growth of its cloud services offering.
Keystone has 70 employees working in offices across Sydney, Melbourne, Brisbane and Auckland. All employees are expected to be retained.
[Related: UXC acquires $6m Melbourne firm]
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