14th Sept 2012. IT Services firm DWS Ltd (ASX:DWS) has announced that it has signed an Asset Purchase Agreement to acquire the business assets of Canberra based Apt Business Solutions Pty Ltd (Apt) for A$5.7 million. DWS advises the acquisition to be EPS accretive at completion.
The completion of this transaction is subject to some conditions precedent, and is expected to be effective from 1 November 2012.
Founded by Managing Director Peter Fox in 1994, Apt provides outsourced application managed services to major Federal Government Agencies, including the Defence Force, and has contracted work until 2016 (with options for further renewal periods thereafter). Its offerings include advanced distributed and web-based applications, enterprise data management systems and analysis and reporting services.
The Apt team are highly proficient in the Data Warehousing and Business Intelligence disciplines, and as such are strongly aligned to DWS’ own core competencies and focus areas.
The acquisition of Apt will strengthen DWS’ presence in the Canberra market, and will add to DWS’ growing capability in the outsourced application managed services market.