Bulletproof has acquired managed private cloud firm Infoplex for AU$3.55 million in an aim to boost its private cloud offering for customers.
According to Bulletproof, Infoplex -- a company that's part of the NextGen Group -- currently has annualised revenues of AU$6 million, with "maintainable" earnings of AU$1.4 million earnings before interest, tax, depreciation, and amortisation (EBITDA) annually.
The company believes that when Infoplex is fully integrated, which is expected to be completed in October, further savings will be achieved. The company said it anticipates that the business will generate in excess of AU$2 million EBITDA annually.
Since its establishment in 2006, Infoplex utilises Metronode datacentres in Sydney and Melbourne to provide fully managed private cloud services, including disaster recovery, backup, and managed firewall.
In a statement on Wednesday, Bulletproof CEO Anthony Woodward said the acquisition will help expand the business' private cloud compute and storage capacity and capability.
"That not only expands our own offering, but also presents a clear opportunity to the company to acquire more of these customers. Infoplex uses technology platforms and skills in which we are already the proven market leader, providing managed private cloud services to customers like Bluescope Steel, Crownbet, and Movember," he said.
The company added that with the acquisition, it will have the opportunity to cross-sell its end-to-end public cloud services to Infoplex's enterprise and government customer base.
Infoplex employees will also transition to Bulletproof as part of the deal, the company said.
The announcement comes after Bulletproof entered a trading halt on Tuesday afternoon.
In August during the company's 2015 financial results, the cloud services provider announced a 59 percent lift in revenue to AU$29.2 million, an improvement on the AU$18.3 million reported in FY14.
The company's net profit after tax, which included the revaluation of performance shares, also returned to positive territory at AU$4.4 million, up from the AU$3.1 million net loss in FY14.
At the time, Bulletproof attributed the results to strong recurring revenue, which contributed to 76 percent of total revenue for the year.
During FY15, Bulletproof completed the acquisition of Pantha Corp for AU$3.9 million, which has now been fully integrated into the business.
The company also said it is undertaking a trial with Dick Smith for one of its application platform products that will form part of the retailer's digital strategy.
10.55 a.m. 16 September 2015: Correction made to the annualised revenue value of Infoplex from $60 million to $6 million.