Amcom Telecommunications has acquired Perth-based IT integrator L7 Solutions for $15 million.
In a statement to the ASX Amcom CEO Clive Stein called the acquisition an “excellent strategic fit” for the company as it looks to accelerate its recently launched cloud offering, which covers infrastructure as a service, platform as a service, cloud data protection and both security and storage as a service.
Amcom will also use the acquisition to leverage its existing fibre network assets.
“There are significant cross selling opportunities into our existing 900 corporate and Government customer base,” Stein said.
L7 Solutions generated revenue of $40 million in the 2011 financial year, and Amcom expects the company to generate at least $4 million in earnings for the 2013 financial year.
The acquisition was funded predominantly by debt, with Amcom’s net debt now standing at $18 million. The company generated earnings of $28.8 million in the year to June 30. L7 Solutions was launched in 2004 and employs 130 staff servicing about 200 clients across the enterprise and government sectors.
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