Dreamscape in $2.5m purchase

ASX-listed tech business Dreamscape Networks has entered into an agreement to acquire Gold Coast-based web hosting company Quadra Hosting for $2.5 million in cash.

Perth-based Dreamscape, which provides internet hosting and domain name registration services, will use part of a $20 million cash advance facility it received in October to fund the Quadra purchase.

The acquisition follows Dreamscape's purchase of Sydney-based Enetica Group in October last year and Net Logistics in March.

Quadra generated $1.35 million revenue and $800,000 in earnings before interest, tax, depreciation and amortisation last financial year.

Dreamscape chief executive Mark Evans said Quadra would be integrated into Dreamscape's Sydney infrastructure.

“Bolting Quadra Hosting into Dreamscape Networks allows us to take further advantages of our existing infrastructure, and the synergies of our previous Australian acquisitions, Enetica Group and Net Logistics,” he said

“We aim to bring increased value to current Quadra customers by utilising our recently upgraded technology platforms, while improving customer service and marketing capabilities via our dedicated hosting brand, Vodien.

“With laser focus on execution we can immediately increase our customer footprint in Australia, and deliver an enhanced offering to the customers of Quadra Hosting, with the aim of growing returns for our shareholders.”

Dreamscape also acquired bought a Singapore-based hosting and domain services business for $30 million in June.

Shares in were flat at 23 cents at 1pm AEDT.