Brisbane-based managed services provider Integrated Solutions Group Queensland has been acquired by ASX-listed SKS Technologies for $5 million. This acquisition enables SKS to expand its presence in Queensland and broaden its customer base.
Integrated Solutions specializes in IT project management, consultancy, and support services, including cybersecurity, data hosting, and procurement. The acquisition aligns with SKS’s strategy to enhance its technology capabilities by integrating IT and audio-visual networks, aiming to drive higher margins through a recurring revenue model.
The $5 million deal comprises $1.8 million in cash, $1.2 million in SKS shares, and up to $2 million through an earn-out arrangement over three years. Approximately 32 staff from Integrated Solutions will join SKS and continue operating from the Brisbane office. SKS CEO Matthew Jinks emphasized that Integrated Solutions meets all of their acquisition criteria, including high margins and recurring revenue, making it a valuable addition to their business.
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