Australian MSP Brennan IT will buy a 50 percent stake in Sydney-headquartered Fastrack Technology, a Microsoft-partnered IT services and cloud specialist, for an undisclosed sum.
The deal will see Fastrack continue to provide most of its products and services, with an added focus on developing new solutions to streamline customer engagement and simplify services procurement.
Fastrack Technology managing director Yoni Kirsh told CRN the benefits for the partnership were two-fold, as the businesses both operated on aligned business models.
"For Brennan IT, they can take advantage of our specific sector expertise in enterprise connectivity, device management and Microsoft consulting," he said.
"For Fastrack, as we continue on our rapid growth path, we are now able to advance on current business processes, increase our buying power and benefit from additional support such as marketing and business strategy."
Dave Stevens, founder and chairman of Brennan IT, will join Kirsh as a non-executive director of Fastrack and said Brennan’s investment was a mutually beneficial move that would see skills sharing and “positive financial returns”.
“Fastrack is a standalone business and the team is focused on maintaining the culture of an agile approach blended with service excellence,” Stevens said.
“We see the relationship between Brennan IT and Fastrack Technology as a symbiotic one. We’re looking to integrate some of Fastrack Technology’s deep skills in Microsoft System Center Configuration Manager (SCCM) that are more enterprise-focused and bring them to the mid-market, to benefit our more traditional customer base.”
The deal follows a year of strategic change for Brennan, which is undergoing a services-focused transformation under chief executive Stephen Sims, who guided the company to revenues of $93.8 million in its last reported financial year.
Fastrack has two offices, in Sydney and Melbourne, and 20 staff members.