22 Aug 2013

Brennan IT on the hunt for acquisitions

CRN – 21 August 2013 Brennan IT said it is planning for growth by acquisition after posting the best quarterly result in its 16-year history. The company declined to provide figures but said its recent fourth quarter 2013 sales results were 30 percent higher than any other quarter in its lifetime. The company placed No.45 in the 2010 CRN Fast50, having grown revenues 15 percent to $57.6 million for the 2009/10 financial year. For FY2013 the managed services provider reported a 43 percent rise in sales from FY12. Brennan IT chief executive Dave Stevens told CRN the company owed its success to growing interest in its core product categories, specifically cloud computing, managed services and software development. “We’re winning more often which has a lot to do with those categories,” he said. The company is now looking for a managed service provider with a similar focus to acquire. Brennan IT’s last takeover spree was in 2009 with the acquisition of S Central and Sirocco. It is looking at expanding into international markets and would consider acquisitions prospects outside of Australia. Read more