Australia's CSG has quietly acquired award-winning Microsoft partner pcMedia Technologies.
In a filing to the Australian Securities Exchange (ASX) CSG said it had bought Blenheim-based pcMedia for NZ$2 million, with $300,000 paid in cash and $1.7 million to be paid as earn-outs over the next three years.
The June transaction saw CSG, which in New Zealand used to operate under the brand Konica Minolta, gain 9200 Technology as a Subscription seats deployed by pcMedia locally.
It has also gained pcMedia's other local service business lines.
Lee Harper, pcMedia's technical director, told Reseller News the company was looking for a vehicle to scale-up its activities in education. It first worked with CSG on the Ministry of Education's School Cloud Transformation proof of concept (pdf).
pcMedia, which trades under the motto "Top of the South", started in 1993 in a garage selling floppy disks. It now services corporate, small business and home users in the region.
A cloud services specialist, pcMedia has won a awards including the Microsoft's New Zealand Platinum Partner of the Year and Education Partner of the Year.
CSG, which has been expanding out of managed print services into cloud, notes in its disclosure it has amended its shareholder and distribution agreemeents with Konica Minolta to allow a rebrand to CSG in New Zealand. It is now a non-exclusive distributor of Konica Minolta products.
Shedding the brand enables CSG sales staff to "go to market uninhibited by trading under the brand of a print manufacturer", it said.
CSG told shareholders it would recognise an approximately $55 million impairment on its print assets, subject to auditor appproval. Sales of approximately A$245 million were around $10.5 million below expectations in the year to 30 June.