ASG buys Melbourne IT firm

04/03/2010 - 11:47

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ASG Group has unveiled its first acquisition in more than a year with the IT services provider acquiring Melbourne-based Dowling Consulting.

ASG Group has unveiled its first acquisition in more than a year with the IT services provider acquiring Melbourne-based Dowling Consulting.

The acquisition of the IT consulting firm is expected to the earnings per share accretive in its first full financial year, ASG said in a statement today.

Dowling has 33 employees spread across Sydney, Melbourne and Brisbane, and counts Australia Post, National Australia Bank, the Victoria Police and Pacific Brands among its clients.

ASG said the acquisition is expected to substantially boost the company's presence on the east coast and increases capability.

"The acquisition of Dowling positions ASG uniquely within the Australian managed services marketplace by bringing together the senior management consulting capability of Dowling with the industry recognised capability of ASG's managed services platform," ASG chief executive Geoff Lewis said.

He added that ASG was currently assessing a number of additional acquisition opportunities and positioning itself for the next wave of growth.

The value of the Dowling acquisition has not been disclosed.

ASG's last acquisition was of A-DB Group in October 2008 for $3 million. That acquisition established ASG in every mainland capital city.

Shares in ASG shed 2.5 cents to $1.215 at 14:25 AEDT.

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