Tuesday, 02 July 2019 13:34

Spirit acquires Arinda IT in $2.6 million deal Featured

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Spirit acquires Arinda IT in $2.6 million deal Image Stuart Miles, FreeDigitalPhotos.net

Internet service provider Spirit Telecom has paid $2.6 million to acquire Arinda IT in a move it says will expand its service offerings to the managed service provider sector.

The acquisition of Arinda marks Spirit’s third acquisition in as many months and, according to the Australian-listed company (ASX:ST1), the acquisition of Arinda — trading as Bigscreensound Pty Ltd — will enhance its existing product and service offering to its current SME customer base, as well as providing “greater access and focus to attractive vertical markets in hospitality and healthcare”.

Established in 2002, Arinda primarily serviced the hospitality industry with in-room Internet billing systems and Internet kiosks, and has since expanded into fully managed IT services including data security and protection, Microsoft Office 365 management, Business WIFI solutions, network implementation and disaster recovery services.

Spirit says all of Arinda’s managed services will be continued as part of it new service offering.

Spirit says the acquisition is expected to be highly earnings accretive for the company “with a $2.2 million annual revenue run-rate, solid YOY revenue growth of 16%, 12 staff members across Melbourne, Sydney, Perth, Tweed Heads and Byron Bay, and more than 300 customers across the country”.

Spirit managing director Geoff Neate said the acquisition of Arinda IT was “an exciting one as the company continues to expand rapidly in both network and service offering, and cementing its position as a major player in the telecommunications market”.

“This acquisition brings to Spirit an instantly accretive expansion into Managed Services and the opportunity to diversify our product and service offering to our growing customer base.

“This marks Spirit’s third acquisition in as many months and is an exciting foray into the complementary sector of managed services. Arinda has a smart team that has demonstrated its ability to grow its top line in a disciplined and well executed manner.”

Arinda chief executive Ben Smith said, “Arinda has worked with Spirit for a number of years, and we are excited by the opportunity to work closer towards our growth targets.”

“The Arinda team will become part of a bigger company and with that brings bigger opportunities. We become Spirit’s first MSP and can see the great opportunities for our customers, employees and shareholders.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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