ComputerCORP buys S Central, Synergy

in brief ComputerCORP today said it would buy fellow IT services companies S Central and Synergy Plus, a Hyro subsidiary.

S Central and Synergy have 90 and 32 staff located around Australia, who will join ComputerCORP as part of the deals.

The Synergy acquisition will cost ComputerCORP between $6.5 million and $9.3 million, depending on the company's profit performance over the next three years, while S Central will be acquired for $1.18 million in shares and $5 million in convertible notes. S Central's shareholders will wind up owning about 30 per cent of ComputerCORP.

ComputerCORP said in a statement that the deals would give it to the capability to provide total end to end solutions or managed services from the large high-end datacentre to the personal system user around Australia, and a total of 330 full-time staff. Customers brought with the acquisition include household names like Virgin Blue, Telstra, St George Bank, Tabcorp, Rio Tinto, NSW Health, Coles, Toyota, and Bluescope Steel, amongst others.