Atturra Acquires Somerville Group For AU$15 Million
Australian technology services provider Atturra has acquired Somerville Group for AU$15 million (approximately US$9.9 million) in cash.
This is technology M&A deal number 68 that ChannelE2E has covered so far in 2023. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Atturra is based in Sydney, Australia. The company has 474 employees listed on LinkedIn. Atturra’s areas of expertise include Advisory and Consulting, Data & Integration, Business Applications, Change Management, Decision Support Systems, Digital Transformation, Cloud Services, Workplace Health and Safety, Council Transformation, Change Management, API Strategy, IT Modernisation, iPaaS Strategy, ERP Modernisation, and Enterprise Content Management.
Somerville Group, founded in 1982, is based in Sydney, Australia. The company has 162 employees listed on LinkedIn. Somerville’s areas of expertise include Cloud Service Provider, Private and Hybrid Cloud Solutions, Managed Services, Hardware Infrastructure, Software Licensing, 1 to 1 Notebook Programs, Security, Multi-Cloud Service, Backup, Professional Services, Connectivity, Hybrid IT, IT Consulting, IT Security, Managed WAN, and Networking.
The acquisition price also includes 1,647,059 Atturra shares with earn-out/post-completion consideration of up to $2.6m in cash subject to Somerville achieving performance hurdles for the fiscal financial years of 2023 and 2024.
The deal enables Atturra to deliver the entire technology stack from application to infrastructure, further accelerating business growth and supporting the expansion of operations into new technologies and markets, the company said.
Atturra Acquires Somerville: Executive Commentary
Stephen Kowal, CEO, Atturra, commented:
“The acquisition of Somerville will be significant, as it will not only provide Atturra with a broad-based managed services capability to facilitate large end-to-end projects, but it will also strengthen our position within the Australian education sector. We are excited to have the opportunity to bring Somerville into the Atturra fold, as it is a trusted technology partner with over 30 years’ experience offering solutions that will complement the Atturra offerings. I am particularly excited to have the industry-leading team of Adrian Toole, David La Bozzetta and Craig Somerville join the Atturra team”
Craig Somerville, CEO and founder, Somerville, said:
“This acquisition represents an outstanding opportunity for Somerville’s staff, clients, and partners. Atturra has forged a strong reputation as a well-respected player within the Australian IT services industry, with long-standing client and partner relationships. Our strong focus on delivering quality outcomes to our valued customers will be enhanced by the breadth and depth of offerings that Atturra brings. Atturra opens the door to fantastic career opportunities for our team and the chance to work on a wide range of projects with the larger organisation.”
Atturra was formerly FTS Group. The company rebranded in August 2021. Since then, the company has been pursuing growth via acquisition, having purchased Microsoft partner Hammond Street Developments (HSD) for $6.5 million in January 2023.
Prior to that, the company was in a bidding war with Brennan IT to buy the publicly listed MOQ Limited.