Australian IT services company ASG Group [ASZ.AX], formed through the merger of privately held Amcon Solutions Group and publicly listed eSec, plans to acquire Assist Pty Ltd for AUD4 million ($2.9 million).
ASG expects to complete the sale by the end of November. Assist, a privately owned Oracle systems company, employs 41 people, and generates 65% of revenue from public-sector clients.
ASG, which also derives much of its business from government, said the acquisition is meant to grow market coverage in the eastern states of Australia, where Assist has four offices, and to increase cross-selling opportunities.
Assist expects to retain its own identity, with management and staff expected to keep their jobs.
The price paid for Assist is dependent on the business achieving certain criteria, and will be paid during a two-year period.
This article was based on material originally published by ComputerWire.