Technology consultancy RXP Services has made its biggest acquisition yet in terms of heacount, with the buyout of project management company Engage ViidaCom for $6 million.
RXP is also offering a further $2.8 million based on performance over the next year.
Based in Melbourne, Engage employs 90 staff and offers end-to-end project management, training and development and auditing with customers in the telecommunications industry and Victorian state government.
RXP chief executive Ross Fielding said he expected Engage to generate an additional $20 million for RXP, pushing its revenue over $100 million in 2016.
Following a string of 14 acquisitions over the past two years, RXP’s revenue grew by $25.8 million to reach $56 million in 2014, earning it a No. 10 spot in the CRN Fast50.
While Engage is RXP's largest acquisition in terms of headcount, the firm made a number of more expensive acquisitions in 2014 - buying Integrated Value for $9.8 million, Insight 4 for $8.7 million and MethodGroup for $6.6 million.
Its most recent acquisition was fellow IT consultancy Centrum Systems, bought in October 2014 for $4.15 million.
RXP is gearing up for even more company buyouts. Last week, it secured $25 million in funds from Westpac for the sole purpose of acquisitions.
Engage managing director Anthony Scoleri will stay on following the acquisition
“Over the past several years, we have found that clients wanted more breadth in our service and RXP will now help fill that gap exceptionally well," Scoleri said.
"Being part of RXP gives us the opportunity to provide greater value to our customers and an enhanced career progression for our people. We look forward to a mutually rewarding future.”
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