Broadband and enterprise systems provider BigAir Group Limited
(ASX:BGL) plans to expand its managed services solutions through the acquisition of Applaud IT.
BigAir will buy Applaud for a cash consideration of $1.2 million and the deal is expected to be tied up before the end of this month.
BigAir says the purchase is inline with its vision to be the number one managed technology solutions provider servicing mid-market customers.
Applaud is expected to generate revenues of between $6 million and $7 million and EBITDA of at least $700,000 in the 2016 financial year.
BigAir Group reported a net profit of $2.84 million in the first half of the 2015 financial year.
