6th April 2011. Anittel Group Limited (ASX:AYG and formerly Hostech) has announced the asset purchase of IT West effective 1 April 2011 for an undisclosed sum.
IT West is based in Dubbo and is a leading regional Managed IT Services business with customers in Dubbo, Mudgee, Orange and other regional cities. Peter Vane, MD of IT West, will take a leading role in the execution of Anittel strategy in regional Australia.
The consolidation of the IT West customer base and operations in Dubbo strengthens Anittel as the leading IT and telecommunications provider in regional NSW.
Chairman and managing Director Peter Kazacos stated: “The integration of IT West shows we are well placed to continue to expand our customer base in regional areas in an affordable way and to maximum effect. We are delighted to welcome Peter Vane and his team to the Anittel family, and look forward to continue to support with great products and services the needs of regional businesses.”
The acquisition follows the resignation of Anittel’s CEO, Ilkka Tales & the appointment of the Chairman and significant shareholder, Peter Kazacos as Managing Director as well as Chairman. In March 2011, Anittel underwent a strategic review of its business, seeking advice from industry consultant, John Walters. This follows a recent downgrade in profit, forecasts, including a $10m goodwill impairment, following from Hostech’s 2010 acquisitions of Anittel, Axxis Technology, Aspirence and Accord Technologies.
Anittel provides voice, data, mobility, PBX , IT and hosted IP telephony services to small and medium sized enterprises, with a particular focus on regional Australia. The company is expanding through organic growth and targeted acquisitions to offer the scale, geographic reach and expertise for existing and prospective customers.