DWS to acquire SMS Management & Technology

Company News

by Jessica Ellerm

DWS Limited (ASX:DWS) has announced it will acquire SMS Management & Technology (ASX:SMX) in a deal estimated to be worth around $124M.

Combining the two companies will create a leading Australian IT services provider with the size and capability to service the entire market.

Shareholders will receive $1.00 cash and 0.39 DWS shares for every SMS share held. They will also receive an interim dividend of $0.015 per share.

The SMS Board has recommended shareholders vote in favour of the transaction.

DWS reported a half year net profit of $9.065M at 31 December 2016.

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