Data#3 buys business & technology consulting firm

Company News

Data#3 Limited (ASX:DTL) has bought a business and technology consulting firm called Business Aspect Group. 
 
The provider of information technology solutions will pay $6 million to acquire the group in addition to $3 million in cash and $3 million in shares subject to its performance. 
 
Business Aspect Group was founded in 2005, has more than 70 consultants and generated almost $14 million in revenue over the last financial year. 
 
Managing Director John Grant says the company set its sights on building its own consulting business after identifying a need from customers two years ago.
 
Data#3 expects the transaction to be immediately earnings accretive.  
 
Data#3 reported a net profit of $7.5 million in the full 2014 financial year.