A $1.8 million cash buyout of local reseller Aptus was announced today by Australian IT services provider RXP Services, the sixth acquisition for the purchaser this year.
The upfront payment could also be followed by a further payment for Aptus in the form of an earn-out in 12 months if they achieve "very good profit results", said RXP Services CFO Chris Shearer.
"There is also an earn-out as well. If they achieve that they will receive another payment in 12 months. That's worked out on a multiple," he told CRN. "They've got to achieve a benchmark."
All 16 full time staff at Aptus will move across to RXP Services, Shearer said. In addition, RXP Services gains offices in Sydney, Melbourne and Brisbane.
Shearer said RXP had acquired Aptus' Australian operation. Aptus also has offices in Canada and South Africa, where it was started by Chris Spies in 1999. The company started trading in Australia in 2011, Spies told CRN earlier this year.
The deal also gives the Melbourne-headquartered firm access to government panels at state level that it wasn't previously operating in, particularly in Queensland.
The buyout follows a string of acquisitions for the ASX-listed RXP Services; including the $5.4 million buyout of Hobart based reseller Insight4 in in March.
The latest acquisition brings the company's headcount to 400, Shearer said.
The Aptus buyout enhances RXP capabilities across Oracle, Microsoft, IBM and Opentext, according to a statement released to the ASX today.
The deal will add identity management and access management capabilties, which RXP hopes to take to its existing clients, according to the statement. CEO Ross Fielding said RXP also expects to offer its services to Aptus' education and government clients.
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