Atturra subsidiary Anatas has exchanged a share sale agreement to acquire Melbourne-based Chrome Consulting, which specialises in deployment of OpenText in an SAP context.
The deal is expected to be completed on or around 24 December 2024, subject to the conditions set out in the agreement.
The upfront consideration is $4 million in cash and $1 million in shares, with earn-out/post-completion consideration of up to $2.5 million in cash subject to performance conditions.
The purchase price, including upfront and deferred consideration, is based on a multiple of 7.5x forecast EBITDA.
Atturra’s announcement about the deal claimed that Chrome Consulting is the largest OpenText consultancy in Australia and New Zealand.
Chrome Consulting was founded in 2014 and according to Atturra's announcement, has implemented more than 80 percent of OpenText Extended Content Management (xECM) projects in Australia and New Zealand.
Atturra’s statement claimed Chrome “is redefining end-to-end ECM services within the SAP ecosystem”and offers such services as strategic advisory, implementation and support.
Chrome “empowers SAP customers on their S/4 HANA data optimization, decommissioning and transformation journeys.”
Chrome Consulting received the SAP/OpenText Partner of the Year – SAP Solution Extensions award for 2020.
The announcement stated that Chrome Consulting’s experience includes working with complex commercial sites with more than 15,000 users dispersed across 120 countries, complex federal and state government agencies, and mining and utility organisations, some of which have hundreds of thousands of users.
“This is yet another exciting acquisition for Atturra that makes us a true market leader in ECM in Australia, an important and growing segment of the IT services market,” stated Atturra CEO, Stephen Kowal.
“The synergies between our service offerings and the cultural alignment of both companies are very strong. Chrome’s core offerings and its industry solutions strengthen Atturra’s portfolio, and we see significant upside in the potential to expand into enterprise solutions, something I mentioned in the FY24 Annual Results Presentation.”
Atturra welcomed Chrome CEO Mark Frear, Directors Athol Hill and Daniel Jewell and “the wider Chrome team to Atturra.”
“This is an exciting move for Chrome”, stated Frear, “accelerating the next stage of growth as Atturra brings a similar partner-friendly attitude and culture while adding significant complementary capabilities in service delivery managed support and a different customer base.“
“With Atturra we can address the SAP ecosystem’s needs more effectively as the deadline for SAP ECC approaches”.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
