This is technology M&A deal number 248 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Atturra, founded in 2015, is based in Sydney, Australia. The company has 527 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, Enterprise Content Management, Managed Services, Application Managed Services, and Data Analytics.
Sabervox, founded in 2007, is based in Newcastle, Australia. The company has 11 employees listed on LinkedIn. Sabervox’s areas of expertise include Hosted Desktop, Private Cloud, Office365, SD-WAN, Infrastructure as a Service, Veeam Backup and Recovery, Cloud File Sync, and Managed Services.
The financial terms of the acquisition involve an upfront payment of $4 million in cash and $1 million in Atturra Limited shares. A post-completion consideration of up to $2.5 million in cash is also on the table, dependent on Sabervox achieving certain performance milestones for the 12 months concluding on 30 September 2024.
The overall acquisition price, combining both upfront and deferred considerations, aligns with 5.5 times the anticipated EBITDA (earnings before interest, tax, depreciation, and amortization).
The acquisition is set to be finalized around 29 September 2023, given that conditions in the SPA are satisfied, such as the consent to change of control in material contracts, according to a release from Atturra.
Expansion into Regional NSW
Sabervox specializes in offering managed IT services and cloud subscriptions to mid-sized clientele in regional NSW and other areas.
Stephen Kowal, CEO, Atturra Limited, commented:
"The acquisition of Sabervox expands Atturra’s managed services capabilities into regional NSW. Sabervox is recognised as a trusted partner in regional NSW and this acquisition enhances our ambition to be Australia’s leading Advisory and IT solutions provider. We look forward to having Dan Wright, Allan Ballantyne, and the Sabervox team join Atturra."
Dan Wright, Managing Director, Sabervox, expressed his views on the acquisition, stating:
"When we started this journey 15 years ago, we had a vision to bring quality IT services to businesses in regional areas. Becoming a part of Atturra reinforces what we have set out to do. Our commitment to our customers will continue from our office in Newcastle with the same employees."