FTS Group has brought another company under its umbrella, acquiring a majority stake in Canberra-based Noetic Group, a management consultancy that specialises in government.
This will allow FTS to gain access to Noetic’s personnel and IP and broaden its IT services market share into defence, federal government and resources industries.
Noetic has been in business for nearly 20 years and has a presence in Sydney and Brisbane as well as its Canberra HQ. In 2019 the company was part of a $95.5 million ERP deal with the Department of Defence, lead by IBM.
The majority stake acquisition takes effect from today as Noetic joins the other services businesses within FTS Group, including ANATAS, Cubic Consulting, FTS Data & AI, Galaxy 42, KoBold, Safety Evolved, and Veritec.
Noetics co-founders, CEO Andrew Balmaks and director Peter Murphy, will work on strategy for collaboration with the CEOs of the other subsidiaries.
FTS Group will be able to leverage Noetic’s capabilities and knowledge across its customer-base, according to FTS CEO Stephen Kowal.
“This acquisition is an important step in our expansion strategy and aligns with our vision to build a world class end-to-end IT services company. When acquiring companies, it is important for our strategy that we bring in players who leverage IP, provide complementary services and have reach into specific industries. Noetic ticks these boxes and others and is a great fit for the Group.”
Noetic employs over 50 consultants and associates who will continue to operate under the Noetic banner as part of FTS.
Balmaks highlighted the benefits that this acquisition will bring for Noetic as it gains access to FTS’s range of services and capabilities.
“This acquisition will enable us to further accelerate our growth and offer our clients a richer breadth of services by leveraging the robust and varied capability within the Group.
“It was important for us to join a Group who we felt would enable us to retain our unique value while also bolstering our capability.”
No purchase information has been disclosed.