ASG Group has announced the acquisition of Brisbane-based technology firm 1ICT in a move to further grow its national presence.
For an undisclosed amount, the transaction, according to ASG, is in line with its strategy to grow the business through a combination of acquisitions and organic expansion.
"We believe 1ICT will fit in perfectly with our own entrepreneurial spirit and culture and with our long-standing commitment to putting clients and their needs at the very centre of everything we do," said ASG CEO Dean Langenbach.
"As a part of the ASG group, we will work together on how we can leverage each other's clients, capabilities, and industry knowledge, while providing ASG with a solid base in Queensland."
Under the terms of the acquisition, ASG said 1ICt will continue to both operate under its own brand and service its customers in Australia and India. Additionally, co-founders Anthony Gavin and Satish Naidu will continue to stay in the company.
1ICT was founded in 2013 and has over 130 employees.
ASG's most recent win was in August with Main Roads WA. Under the AU$75 million IT services contract, ASG agreed to provide applications and infrastructure managed services, which will be critical to the work of the authority, including customised applications support and maintenance for over 100 applications.
Additionally, ASG will also provide the state government entity with Dynamics 365 CRM, Sharepoint, and Azure Support.
On the infrastructure side, ASG said the deal also involves service desk and desktop support; server, storage, and database; network support; security devices; and traffic control system support.
The multi-year contract will see ASG Group provide applications and infrastructure managed services to the state government entity.
The Federal Court of Australia has approved the impending takeover of ASG Group by Nomura Research Institute.
ASG Group has confirmed it will be entertaining the AU$349 million offer made by Nomura Research Institute to acquire 100 percent of the Australian IT services firm.
ASG Group is confident after reporting revenue of AU$188.7 million for the 2016 financial year, the results will become a springboard for the 2017 financial year.
Australian-listed ASG Group has released its 2016 financial year earnings guidance, expecting revenue to fall just shy of AU$190 million after a solid year of managed services contracts and platform migration.