Atturra Limited (ASX:ATA) Completes Acquisition of Plan B

Acquisition Overview

Atturra Limited (ASX: ATA) has successfully completed the acquisition of Morgan Holdco Limited, trading as Plan B. This acquisition strengthens Atturra’s capabilities in managed services, private cloud, and connectivity across New Zealand, expanding its service offerings and client base significantly.

Financial Details

The upfront consideration for the acquisition amounts to NZD20 million in cash. Additionally, there is a potential earn-out of up to NZD4.5 million based on Plan B’s performance against audited EBITDA targets for FY25. In Australian dollars, the upfront payment is approximately AUD19.43 million, with earn-out potential reaching up to AUD4.09 million.

Benefits of Acquisition

Plan B operates five primary data centres across New Zealand, with a strong portfolio of more than 1,000 clients across Australia and New Zealand. The acquisition is expected to create a highly predictable revenue stream for Atturra while enhancing its geographical and service capability in the managed services sector.

Executive Comments

Stephen Kowal, CEO of Atturra, stated, “The acquisition of Plan B fits into Atturra’s ambition to be a leader in managed services and this expands Atturra’s presence into New Zealand. We see this acquisition as a launchpad for further expansion both geographically and in capability.”

Frazer Scott, CEO of Plan B, expressed enthusiasm about the integration, saying, “The team at Plan B are delighted to be joining Atturra in what is a significant milestone for our companies. Our shared focus on people and customer success makes this partnership a natural fit.”

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Motley Fool contributor Kiarra Jackson 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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