IT service provider ASG Group has announced its third acquisition in the past year, buying east coast IT consulting firm Capiotech for $30 million.
The Capiotech acquisition follows $112 million in new contracts secured by ASG since January 2010.
This included the recent acquisition of high end IT consulting group Dowling Consulting and SAP software provider Courtland Business Solutions.
ASG Chief Executive Officer Geoff Lewis said the Capiotech acquisition capped off a deliberate strategy by the Company to boost its capability in key, high value service areas.
"We set out to build our capabilities in Business Intelligence, SAP and consulting and we've now delivered on this," said Mr Lewis.
"At the same time, we've invested heavily in our next wave of contract growth, with major wins in recent months with customers such as the Department of Prime Minister & Cabinet, Western Power and the West Australian Department of Education," he said.
Capiotech represents a major boost to ASG's service capabilities, particularly in Business Intelligence Solutions and Enterprise Performance Management and further strengthens the company's presence on the eastern seaboard, an area identified as a key growth.
It is a highly successful and well regarded IT consulting company with 90 employees in Sydney, Melbourne and Brisbane that specialises in the analysis, design and implementation of corporate analytical solutions.
Its strong blue chip client base includes Qantas, ANZ Bank, Commonwealth Bank, Macquarie Group, NAB, Vodafone, Origin Energy, CSL and the Queensland Department of Transport and Main Roads.
The Capiotech acquisition is forecast to deliver next financial year underlying earnings per share (EPS) accretion of 15 per cent.