- Internet and IT support company Spirit Telecom (ASX:ST1) has bought Trident Business Group and Neptune Managed Services for nearly $7 million
- The company says this is the largest and most strategically critical purchase it has made to date
- The purchase will see the company launch its new business unit, Trident IT Solutions
- It will be focusing on delivering cloud-based IT and internet solutions for schools, hospitals, aged care facilities, and the hospitality industry
- Spirit shares closed 16.7 per cent up at 21 cents each today
Spirit Telecom (ST1) has bought Trident Business Group and Neptune Managed Services for $6.9 million.
The company says this is the “largest and most strategically critical” purchase it has made to date.
The double purchase will see the company launch its new business unit, Trident IT Solutions. The new company will focus on delivering cloud-based IT and internet solutions for schools, hospitals, aged care facilities, and the hospitality industry.
“This is a transformational period for Spirit and through the acquisition of these businesses, Spirit will build and strengthen cloud, security, data, and managed IT services capabilities whilst providing entry into target growth verticals including schools, health, and Aged Care,” Managing Director Sol Lukatsky said.
With its TBG and Cloud-Based Technology purchase in January, Spirit said will have a combined turnover run rate of approximately $60 million.
The deal will see Trident CEO Katie Bentley appointed as the CEO of the new Trident IT Solutions division, while Neptune CEO Geoff Bentley will step into the role of Spirit’s Chief Sales Officer.
“It is a really exciting time to be joining Spirit, and I am ecstatic to be joining in the capacity of CEO of Trident IT Solutions,” Katie said.
Shares in spirit closed 16.7 per cent up today, worth 21 cents each.