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Construction needs cloud flexibility
Australia’s embattled construction sector could benefit from cloud based information systems that can be switched on and off in lockstep with individual projects – with the exception of those organisations based in remote areas like the Kimberleys.
read moreSMS completes $2.8m IPI buyout
Stan Beer
Wednesday, 08 December 2004 06:29
ICT banking and finance consulting company, SMS Management & Technology Ltd (ASX:SMX), has finalised the acquisition of management consulting firm, Implementation Partners International (IPI).
SMX will pay about $2.8 million for IPI which in 2004 had revenues of $5 million and EBITDA of $800,000.
With the acquisition, SMX has increased its staff numbers by 30 IT and business professionals, bringing the total number of employees and associates of the company to over 700.
SMX CEO Tom Stianos said in Melbourne today, "The IPI acquisition is in keeping with our growth strategy. IPI has many synergistic values and a client base that complements our own in the ICT and banking and finance areas. IPI has contracts running through 2005 and this acquisition is expected to add $5m of revenue in the next full year. While our focus is on aggressive recruitment of the best talent in the market, acquisitions of quality companies such as IPI are an effective way of accelerating our growth strategy."
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