Hostech announced yesterday that it had bought four IT and telecommunications businesses including Peter Kazacos' most recent IT services venture, Anittel — formerly known as PKBA.
The company bought Anittel, WA-based Microsoft specialist Accord Technologies, Western NSW-based infrastructure and support firm AXXIS and network integration provider Aspirence. The businesses will add over $60 million to the company's annual revenues.
For the four companies, Hostech will pay a total of $6.9 million in cash and $6.75 million in shares whilst taking on $3.4 million in debt through a convertible note.
Peter Kazacos founded Kaz, an IT services company that was bought by Telstra for $333 million back in 2003, and then sold to Fujitsu last year for $200 million. He founded Anittel with Steve Lombardo, Mark Stead and Conrad Hilder.
Kazacos and Stead will join the existing Hostech Board and Kazacos will become executive chairman of the group.
The group also announced that Telstra executive director Steve McAllister would also join the Hostech board.
"There is currently a convergence of the information, technology and telecommunications services sector from which is evolving a new kind of company providing much needed, combined, [information technology and telecommunications] services. We will be this company," Kazacos said. "The aggregation of these groups is a logical next step in this evolution."
"We are not only focused on the capital cities. Regional Australia has been under-serviced in this sector. Our expanded group will enhance the services provided to all of Australia," Kazacos continued.
The combined group will have 270 staff in 15 locations around Australia.