Synergy Plus flags multi-million dollar acquisition plan

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Synergy Plus flags multi-million dollar acquisition plan

ASX-listed Synergy Plus has announced its intention to acquire an Australian managed services or hosting provider. 

In what would be the company's seventh acquisition in 24 months the company said it "would provide the vital elements" required for its growth-by-acquisition strategy.

Synergy's chief executive Garry Henley told CRN that the company's "ideal" target is a leader in the mid-market managed services or hosting industry, with a solid footprint and revenues of around $30 million.

"We're looking for a managed service business that we think can fit well into Synergy. A business somewhere around the $20 million to $30 million turnover with good customer engagement in the medium to large-medium space - that's where we're positioning the business around, 100 to 1000 seat customers.

"We're trying to broaden our managed services and professional services as a mix of our hardware revenue. We do about $15 million in services at the moment and we're definitely trying to drive a more solution sale and more managed service around that."

Synergy wants to add infrastructure, desktop and servers to its managed services portfolio. While its managed services is growing "organically", Synergy Plus wants to move faster, said Henley.

An acquisition would take the $170 million company to a $200 million company, Henley said. 

"We're looking certainly to have this and identified this year at the latest," he said. "We're ready to go now, it's a case of identifying the right fit. We're committed to it," he said.

Henley said there are potentials out there that the company was looking at, but not yet talking to.  

Synergy Plus recently acquired South Australian IT service provider C&PA. At the time Henley told CRN that Synergy Plus hoped to grow and integrate its infrastructure business with its traditional mid-range IBM business.

Last month it acquired mobility systems integrator AirData.

ASX-listed ComputerCorp acquired the Synergy Plus business in April 2009.

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