Aussie solutions provider buys out rival

By Allie Coyne on Jul 6, 2012 1:12 PM
Filed under Services

Recruitment drive to follow.

Two Sydney resellers will become one when local managed services firm TechFlare Solutions acquires fellow solutions provider Global Technologies Company in an all-equity deal.

The acquisition is TechFlare’s third since its inception in June 2004.

Founder and managing director of the CRN Fast50 alumnus, Geoff Olds, told CRN he came across GTC and its director Vivek Trivedi via a partnership with Trivedi’s offshore development business Rishabh Software, located in India.

As the deal progressed, Olds spied an opportunity with another of Trivedi’s companies. 

“I’ve worked with Viv for a little over a year and he fits exactly into the culture of TechFlare, which is focusing on delivering in the long term for the client,” Olds said.

“As things flowed along I saw a lot of synergy in the two companies, and realised it was a great bolt-on to our business.”

Trivedi will join TechFlare Solutions as a member of its five-strong board.

All of GTC”s six staff will be integrated into the TechFlare business.

TechFlare is also independently recruiting, aiming to hire six new staff members this year, and a further eight in 2013.

The business will have 34 staff across two offices by the end of the year.

“We’ve got a lot of ambition and we’re doing things the slow and steady way," Olds said.

Both GTC and TechFlare’s offices are located in Silverwater.

Both premises will remain until the end of the year when they will be consolidated into one larger space in a similar location. 

There are three separate business units within TechFlare - solutions, telecommunications and development -  which Vivek will lead as director of development alongside his board member duties.

Olds declined to comment on the value of the deal.

TechFlare Solutions earned a spot in the 2010 CRN Fast50 thanks to a 30 percent jump in revenue to post just over $1.3 million in 2009. He said the GTC acquisition would mean a 25 percent increase in revenue for this year.

 
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