CSG buys Change Corp for $20m-plus

LISTED ITC company, CSG Ltd, has bought Perth-based business consulting firm Change Corporation Pty Ltd for more than $20 million. Change Corp’s services include business strategy, IT strategy, solution architecture, implementation, customisation and development, integration and infrastructure. Darwin-based CSG said the acquisition integrated well with both its existing application services businesses in Western Australia and Victoria, providing an overarching consulting and systems integration capability, as well as the opportunity for forming combined outsourcing, integration and consulting propositions to customers with a multi-source approach. CSG chief executive Denis Mackenzie said the acquisition gave its application services division the critical mass and platform to achieve the company’s aim of being market leading across all divisions. “Our existing applications services business in Perth addresses the SME marketplace and we see significant growth in this sector,” he said. Founded by Stephen Langsford in 2002, Change Corp has expanded its team to 100 staff, with the majority based in Perth. It has recently established a Sydney office, while delivering services to Melbourne and Canberra markets. Mr Langsford remains the company’s executive chairman as well as holding the position of chief executive with Quickflix Ltd, an independent online DVD rental business launched in 2003, which has now partnered with Optus, Fairfax, News Corporation and Ninemsn. The CSG transaction calls for the payment of six times 2008 profit before tax, with an initial payment of $20 million. Jenelle Carter

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