ASX-listed services firm DWS has acquired user experience design company Symplicit.
DWS will pay $8.5 million upfront for 100 percent of shares and a performance-based payment of up to $6.5 million based Symplicit’s 2015 growth and earnings before interest, taxes, depreciation and amortisation.
Symplicit will continue operating as a wholly owned subsidiary.
According to a statement to the ASX, DWS expects the acquisition to provide additional revenue of $8.5 million, as well as capturing downstream revenues from building and managing digital applications from Symplicit’s emerging projects.
Danny Wallis, who recently stepped into the CEO role after the departure of Lachlan Armstrong, said the acquisition was part of DWS’s strategy to add to its services portfolio. He also said it would open number of opportunities for vertical expansion, citing Telstra as one of Symplicit's major clients.
“Symplicit provides us with the ability to deliver consumer-led innovation and UX solutions to our clients as an integrated package,” said Wallis. “We are delighted to welcome Symplicit’s highly innovative, skilled professionals to DWS as we continue expanding our digital portfolio of innovative business solutions.”
Formed in 2003, Symplicit has approximately 50 staff across its Melbourne, Sydney and Coolangatta.
“DWS shares our vision for the future of integrating customer led innovation and UX design thinking into an end-to-end solution,” said Symplicit co-founder Jodie Moule.
“Leveraging DWS’ scale and resources along with its strong presence with large corporate and government clients, we are positioned to take a significant step forward in delivering our unique solutions to the market.”