Publicly listed solutions provider UXC Limited has finalised the purchase of security specialist Saltbush Group.
"I am delighted to have one of the most accredited and respected organisations in Australia become part of UXC," said Cris Nicolli, managing director of UXC. "We have been looking to augment our capabilities in [security] for some time."
Saltbush has annual revenues of about $12 million and employs 66 staff in Canberra and Brisbane. The company boasts an array of IT security credentials – RTO, I-RAP, CREST approval, and QSA-accredited staff. Its business lines include consulting, training, managed services, app development and testing, all conducted with a security focus.
ACT-headquartered Saltbush should strengthen UXC's position in the information and cybersecurity markets, especially with federal government clients.
"Cybersecurity has been identified by the government as a high-priority national security issue," said Nicolli.
Saltbush will come under the UXC Consulting umbrella. The acquisition was completed with a mix of cash and shares, but the full value was not disclosed to the market. CRN contacted UXC to confirm the purchase price, but had not received a reply at the time of writing.
"We are excited to [become] a part of such a well-recognised and strong company," read a statement from the directors of Saltbush.
"It was clear that, as a security practice within UXC Consulting, we could continue to exercise the level of agility that will allow us to continue to be the flexible and responsive business partner whom our clients have relied upon."
The 3,500-employee UXC Limited acquired five companies in the 2014 financial year, including Convergence and Clarity Consulting in June. CRN reported in February that UXC had spent $50 million on acquisitions in just six months.
UXC recorded record revenues of $643.4 million for the year ending 30 June but took a $6.9 million hit in net profit, to post $15.7 million.