Published on the 19/08/2015 | Written by Newsdesk
CSG has signed an agreement to acquire CodeBlue for a total sum of $15 million…
Listed Australian ‘technology as a service’ company CSG is to acquire New Zealand’s CodeBlue for $5.0 million in cash, an additional $2.7 million in contingent payments and earn out considerations capped at a total of NZ$15 million.
CSG provides managed technology, print and cloud solutions across both sides of the Tasman. Its CEO Julie-Ann Kerin pointed to a natural fit between the companies: “The acquisition provides an attractive platform to support [our] strategy in Australia and New Zealand.”
The company said CodeBlue enhances CSG’s expertise in delivering IT support to small and medium enterprise customers, and proposed that CodeBlue will leverage its IT service desk and remote support and monitoring platform to provide an ongoing support service delivery unit for customers in both nations.
It added that as of next year, local CodeBlue customers can access the full range of services available from CSG, including print, unified communications, desktop, display, IT infrastructure, data storage and back up all as a service.
“Customers will be able to source multiple products and solutions from one partner, with one monthly bill and get access to the latest technologies for minimal capital outlay,” Kerin said.
CodeBlue CEO Chris Mackay said that as part of CSG, it is well positioned to execute on its vision of providing enterprise-strength nationwide IT service and support to companies with up to around 300 seats. “We will continue to develop [our] IT service desk and remote support and monitoring platform,” he noted.
Founded in 2004 by current executive director Ken Davis, CodeBlue has 160 staff and nine branches around the country. The management team will remain in place following the acquisition.
