Announcing its second acquisition within three months, Atio has acquired Gold Microsoft partner Symetrix.
The acquisition is effective from 1 June 2008. The company will be renamed Atio IT-Services division and operate autonomously with its own sales and management team headed up by MD Craig Munitz within the ATIO group.
In terms of the deal, all Symetrix staff – almost 100 in total – will move into Atio offices in Johannesburg and Cape Town during the next few months. The division will function as the third operating division within the organisation, inheriting about 50 clients with long-term contracts in the medium to large corporate market segment.
Chris Van der Sande, CEO of Atio, says the deal helps achieve his mandate to grow Atio into a position where the company has several diversified business units, each offering their own, distinct niche services.
“We are excited about the opportunity this transaction gives us in creating a sustainable earnings stream and the ability to sell our services across clients,” says Van der Sande. “Symetrix has been a supplier of ours for a number of years and during this time, we have grown to know and appreciate the management team and service offerings.”
Munitz says the deal makes perfect sense as Symetrix and Atio share a similar growth strategy, namely to become a market leader in the mid-market sector.
“There is a perfect culture fit and the benefit of Atio’s BEE credentials and our strong pipeline of new business mean that good growth is anticipated,” says Munitz. “The deal also points to the future strategy of convergence of Microsoft partners with telecoms partners.”
Van der Sande adds: “Atio has a balance sheet that can take advantage of strategic opportunities when they arrive. The company remains opportunistic, yet cautious, when looking at further acquisitions.”