IT services provider ASG has delivered on its plans to penetrate the SAP market, with the acquisition announced this morning of Courtland Business Solutions.
Founded in 1994, Courtland is a Western Australian-based ERP specialist company, embedded in the lucrative engineering, mining, oil and gas, construction and infrastructure sectors.
"The acquisition of SAP capability is a highly strategic move that will significantly increase our product offering and effectively double our available market opportunity," said ASG CEO Geoff Lewis. ASG already has capability in the solutions offered by SAP rival Oracle.
"We are also particularly pleased to be increasing our exposure to the mining and oil and gas sectors that are showing activity that is expected to continue well into the future."
Courtland managing director Peter Lander said he was "delighted" about the acquisition. "We are very pleased to be aligned with a national IT services group of the calibre of ASG," he said. "The prospect of combining the ASG and Courtland SAP businesses is very exciting and we believe there is a sizable opportunity for the future growth of our complimentary businesses."
The price of the acquisition is the company's earnings multiplied by five, before interest and tax.
ASG's last acquisition was last month when it purchased Melbourne-based IT consulting firm, Dowling Consulting. It was a move to expand ASG's arms to the east coast, Dowling had a total 33 staff in capital cities Sydney, Melbourne and Brisbane.