Telstra hits acquistion trail
- 10 November, 2004 22:00
TELSTRACLEAR has acquired local security consultancy Sytec in a deal worth $12 million. The purchase includes Sytec subsidiary company DMZGlobal, an application service provider. Sytec, established in 1987, employs over 140 staff - all will be retained.
TelstraClear CEO Rosemary Howard says the purchase allows delivery of full end-to-end ICT solutions to business customers from the advisory and consulting phase through to delivery and management.
“Sytec’s internet protocol expertise complements TelstraClear’s world class IP network capabilities. The staff have unique skills and processes that, combined with Telstra, will allow both companies to develop,” she says. Howard says there will be little effect on the channel as sales will continue through the Telstra channel, although she doesn’t rule out future flow-through opportunities as the businesses develop.
Sytec will continue to operate as a stand-alone business but the purchase allows both companies to cross sell and upsell products to new and existing customers.
TelstraClear says the New Zealand ICT market is expected to reach $2.16 billion in 2004 and $2.76 billion in the next four years.