COSOL acquires Brisbane-based IBM partner Clarita Solutions

ASX-listed IT services provider COSOL has acquired Brisbane-based Clarita Solutions for $7 million.

Clarita specialises in enterprise asset management (EAM) solutions, particularly IBM Maximo through its GIS (Geographic Information System) data management services and EAM as a Service (EAMaaS) platform.

COSOL said the acquisition bolsters its EAM business, particularly in project and support services and capabilities, and also becomes the exclusive reseller of IBM’s EZMaxMobile products across Australia and New Zealand.

“The acquisition of Clarita delivers a natural extension to COSOL’s digital and data solutions, enhancing and extending our capabilities across a broader range of enterprise systems. We already have significant solution portfolios for Hitachi Ellipse and SAP, and we now welcome IBM Maximo to that portfolio,” COSOL Group chief executive Scott McGowan said.

“COSOL and Clarita share a common goal to drive efficiencies and deliver quantifiable business improvements for asset intensive organisations, for whom return on invested capital and maximising the operation and exploitation of their current investments is of paramount importance.”

McGowan added that Clarita has a complementary portfolio with COSOL’s recent acquisition, US-based AddOns Inc (now COSOL North America), and together extends the company’s platform capability and geographical reach.

In addition to the $7 million purchase price, Clarita also gets around 8 million COSOL shares and an earn-out consideration of up to $3.75 million based on performance over the next two years.

Clarita Solutions CEO Annette Henry said, “I’m delighted Clarita has the opportunity to become part of the COSOL Group. Joining forces will deliver substantial benefits for our clients, as we create and deliver seamless enterprise solutions to unlock new and exciting opportunities across the asset information ecosystem.

“Together our organisations provide a compelling offering to support mission critical business decision-making and improved operations for asset intensive organisations.

“COSOL and Clarita have a common heritage and at our very core we are both highly focused on delivering business improvements to our clients. Importantly, our shared recognition that success is driven by exceptional people and a commitment to add value to our business partnerships demonstrates the strong alignment in our values and our organisational culture.”