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The actual amount of the earn-out - potentially worth another $32.5 million on top of the $227.5 million price tag - was not disclosed.
"This depth and breadth of expertise allows NEC Australia to deliver end-to-end ICT solutions and services, helping customers gain better business value from their ICT investments," said Alan Hyde, managing director of NEC Australia. "The merger will ensure retention of local expertise and will enhance our ability to present a strong local footprint in the Australian market."
The acquisition gives NEC Australia annual revenues of over $400 million and a workforce of around 1550. Company officials say this makes it one of the top-tier ICT companies in Australia.
