News: Empired buys Intergen for $17.4M

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Information technology services company Empired Limited (ASX:EPD) has inked a deal to buy Intergen Limited for $17.4 million, describing the deal as a transformational acquisition.  

 

Intergen in one of New Zealand's leading IT services companies with annualised revenue of $60 million, almost equal to Empired’s annual revenue of $67 million.  

 

Empired says the acquisition will cement the company as the largest local Microsoft provider in the Australasian region and boost its staff numbers by 85 per cent.  

 

Managing Director Russell Baskerville says the combined organisation is positioned to take advantage of significant growth opportunities. 

 

The transaction is still subject to some conditions but expected to be tied up by the end of October. 

 

Empired reported a net profit of $3.79 million in the 2014 financial year.