ASG Group, a wholly-owned subsidiary of Nomura Research Institute (NRI), has acquired Velrada, a Microsoft solutions provider and MSP in Australia. This is ASG Group's fourth MSP and IT consulting-oriented acquisition in recent years.
Moreover, this is technology M&A deal number 242 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
ASG Group Buys Velrada: Business Details
ASG Group employs more than 2,000 staff across Australia and has offices in eight cities across Asia-Pacific. Velrada, backed by roughly 200 employees, generates roughly A$45 million in annual revenue (roughly US $33 million). The MSP and IT solutions provider was named Microsoft Growth Partner of the Year in 2021, the buyer notes.
Under ASG's ownership, Velrada will retain its staff, remain a standalone business and maintain its focus on the Microsoft market. Velrada also expects to gain synergies from NRI Group -- a US $4.9 billion business that employs more than 2,000 Microsoft-focused professionals. NRI Group's businesses include:
- Planit, a provider of application testing and quality engineering; and
- Core BTS, a U.S.-based technology consulting and MSP focused on Microsoft cloud services.
ASG Group Buys Velrada: Executive Perspectives
In a prepared statement about the deal,ASG Group CEO Dean Langenbach said:
“Velrada is an incredible West Australian success story. It has leveraged its Microsoft partnership to facilitate the digital transformation of some of Australia’s biggest organizations including Sodexo, Downer, BHP, and Rio Tinto.
Velrada’s acquisition allows us to boost our capacity for seamless delivery of Microsoft’s technology, and we are proud to be aligned with a company whose extensive West Australian foothold, and growing global footprint already includes major European customers and the UK Government.”
Added Velrada CEO Robert Evans:
“It has been an incredible journey for Velrada and we are delighted with the outcome. We bootstrapped this company ourselves, and through hard work and innovation, have grown Velrada into one of the most valuable technology companies in Western Australia. With this partnership, Velrada will be well positioned to continue with its rapid expansion in Australia and overseas.”
ASG: Previous MSP and IT Consulting Acquisitions
ASG has M&A experience. Previous deals include acquiring: