ASX-listed reseller Anittel has bought the assets of Dubbo IT services provider IT West, despite a recent profit slump that forced it to rethink its acquisitive growth plan for the next 12 months.
IT West, a Microsoft small business specialist, serviced customers in regional NSW including Dubbo, Mudgee, Orange, Walgett, Grafton and Coffs Harbour, becoming Anittel's second Dubbo-based business.
Financial details for today's deal were not disclosed but CRN has contacted chief executive Peter Kazacos for comment.
In a statement, he said: "The integration showed Anittel was well placed to continue to expand our customer base in regional areas in an affordable way and to maximum effect."
Kazacos was likely referring to Anittel's revelation last month that it had reduced its headcount and restructured its growth focus following a net profit after tax drop of 1215.5 percent in the first half ending 31 December.
Kazacos didn’t rule out acquisitions but told CRN at the time that it was geared to capitalise on organic growth opportunities in the coming 12 months - it was only last November that Kazacos told CRN that acquisition was high on its agenda.
IT West founder and managing director Peter Vane has joined Anittel in a "leading strategic role". Vane declined to speak to CRN about the buy when asked earlier today.