22/08/2000 - 22:00

Amcon changes name, expands

22/08/2000 - 22:00

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WA-based independent information technology outsourcing company ASG Limited is the new parent company for Amcon Solutions.The company has established a new board of directors and appointed Hartley Poynton to advise it on capital raising options, in...

Amcon changes name, expands

WA-based independent information technology outsourcing company ASG Limited is the new parent company for Amcon Solutions.

The company has established a new board of directors and appointed Hartley Poynton to advise it on capital raising options, including the possibility of an initial public offering, to fund expansion.

ASG plans to introduce new services and expand into new markets including Sydney and London.

ASG Limited managing director Geoff Lewis said the group would continue to use Amcon Solutions as its trading name in the short term, and would move to ASG Limited as clients became familiar with the new name.

Since commencing operations in 1996, the company has had revenue growth of 90 per cent per annum to $7.5 million in 1999-2000. The company has been profitable for the past three years.

This year, it anticipates revenue growth of around 150 per cent.

Mr Lewis said the overwhelming need for IT outsourcing would allow ASG to reach its growth targets.

Leading technology research company GartnerGroup forecasts the value of Australian IT outsourcing to increase from $US860 million in 1999 to $US3.9 billion in 2003.

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