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Stratatel ties up Vircom deal

TELECOMMUNICATIONS management firm Stratatel Ltd has set its sights on the Western Australian market with the recent acquisition of Burswood-based integrated software and services business, Vircom Pty Ltd, from Intermoco Ltd. The purchase price is for an initial $125,000 and an additional $6,666.67 per month for up to 12 months. Stratatel says Vircom will add an estimated $500,000 in recurrent annual revenue and annualised earnings of about $200,000, subject to client retention. The Vircom purchase is expected to enhance Stratatel’s existing customer base by including fixed line and mobile telephone billing management services. Intermoco said it had retained the licence to Vircom’s ‘On Trac’ software, which provides technology solutions for energy management, energy usage analysis and bill validation services for the electricity, water and gas industry sectors. Intermoco Ltd bought Vircom in July 2005 for $500,000, comprising a mixture of shares and options. At the time, Intermoco said the Vircom acquisition would expect to increase annual gross revenue by about $1.6 million. Stratatel posted a full-year net loss after tax for 2005-06 of $265,678, including a research and development income tax benefit of $120,959. The company’s revenue for the year increased 16.9 per cent from $1.93 million, up from $1.65 million in the previous corresponding period.

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