SMS says acquisition will add $13 million in revenue

Peter Dinham
Monday, 05 October 2009 12:22

IT Industry - Strategy

SMS Management & Technology has acquired specialist systems integration provider, Aipex, in a deal which SMS said today will add over $13 million in revenue and in excess of one million dollars in net profit after tax in the first year.

SMS CEO, Tom Stianos, said today the acquisition of Aipex, Australia’s largest certified Tibco partner, “significantly accelerates the breadth of our systems integration services, allowing SMS to better deliver end ¬to ¬end projects for our clients.”

Stianos said the Aipex business would be integrated over the next three months and would be EPS accretive from January 2010.

According to Stianos, other benefits of the acquisition include the addition of 54 specialist consultants to SMS’ Victorian and New South Wales teams, a new capability in the markets & trading /institutional banking sector, a “talented national practice director for systems integration,” and “proven implementation and project experience gained over 10 years.”

Aipex director, Trevor Townsend, said today that becoming part of SMS would give the company “the opportunity to take the practice to a new level in terms of the size and complexity of projects we can deliver,” and, he added, would “extend the service proposition that we offer to our clients and it will also open up significant development opportunities for our staff.”

Stianos said Townsend would head up the national systems integration practice and continue to develop and grow the acquired capability.