UXC Limited (UXC) is pleased to announce that its wholly owned subsidiary Red Rock Consulting has completed the acquisition of all the shares of Glue AP Pty Ltd. Glue is a small specialist provider of Service Orientated Architecture (SOA) consulting, Enterprise Architecture and Application Integration services and has achieved great success with a number of blue chip customers. Glue will combine with Red Rock’s existing SOA practice thus consolidating the leading Australian SOA businesses at both the strategy and delivery layers. The consideration is payable in a combination of cash and shares. A portion of consideration has been deferred contingent on future performance and the acquisition is expected to be immediately accretive to earnings per share.
UXC Executive Chairman, Mr Geoff Lord commented: “A large attraction for us in proceeding with this deal includes the fact that Glue has a strong position in the Utility sector, and their capabilities will help us to strengthen the bridge of our Business Solution offerings into that sector by working with Field Solutions Group customers. The acquisition is also a continuation of our strategy to maintain the Business Solutions Group as the preeminent independent Australian provider of IT&C services in the local market. We look forward to offering our customers a full integration service, SOA consultancy and technical delivery capability on a national scale through our Red Rock business. Glue brings proven integration and SOA related intellectual property to our portfolio which will accelerate solution outcomes for customers.”
UXC Limited has a successful history of creating shareholder wealth and has established a strong track record in growing revenue, earnings, EPS and dividends over an extended period. Revenue approaching $800 million is targeted for the 2010 financial year, and the group employs some 3,500 employees. UXC aims to be Australasia’s leading Solutions House and the investment of choice in the Information Technology sector. UXC provides its services through three operating divisions: Business Solutions Group, Professional Solutions, Field Solutions Group.
