Atturra Limited (ASX: ATA) Completes Acquisition of Chrome Consulting
Acquisition Overview
Atturra Limited (ASX: ATA) has successfully completed the acquisition of Melbourne-based Chrome Consulting Pty Ltd through its subsidiary Anatas Pty Ltd. The cash consideration for the acquisition is $4.0 million, along with $1.0 million in shares. Additionally, the deal includes potential earn-out payments of up to $2.5 million, contingent on Chrome meeting certain performance benchmarks based on audited EBITDA targets for FY25 and FY26. The purchase price reflects a multiple of 7.5x forecast EBITDA.
Strategic Impact
This acquisition is anticipated to significantly enhance Atturra’s data and integration practice by bolstering its enterprise content management (ECM) capabilities. Chrome Consulting, an award-winning partner of SAP/OpenText, provides comprehensive ECM services, thereby aligning perfectly with Atturra’s strategic goals in enterprise solutions.
Leadership Insights
CEO of Atturra, Stephen Kowal, expressed enthusiasm about the acquisition, stating, “This acquisition is an exciting step for Atturra, reinforcing our position as a true market leader in Enterprise Content Management in Australia.” Kowal emphasised the cultural and operational synergy of Chrome’s solutions with Atturra’s service portfolio, which opens new opportunities to deliver innovative solutions to clients.
Mark Frear, CEO of Chrome, conveyed optimism regarding the integration, noting, “This is an exciting move for Chrome, accelerating the next stage of growth as Atturra brings a similar partner-friendly attitude and culture.” This sentiment underscores the confidence in the combined strengths of both organisations to enhance customer success in the sector.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Atturra. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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