Atturra Limited (ASX: ATA), the Sydney-based technology services powerhouse, is on track to bolster its dominance in the Australian IT market through the acquisition of Melbourne’s Chrome Consulting. The deal, expected to close on 24 December 2024, will see Atturra’s subsidiary, Anatas Pty Ltd, integrate Chrome’s expertise in SAP and OpenText Enterprise Content Management (ECM) solutions into its already expansive portfolio.
This acquisition, flagged as “Acquisition 3” in Atturra’s recent capital raise presentation, positions the company as a leader in the rapidly growing ECM segment—a market segment crucial to businesses navigating increasingly complex data management and compliance landscapes.
Why Chrome?
Founded in 2014, Chrome Consulting has built a reputation as the largest OpenText consultancy in Australia and New Zealand, specialising in deploying OpenText solutions within SAP environments. The firm has delivered over 80% of OpenText Extended Content Management (xECM) projects in the region. With clients ranging from sprawling global enterprises to government agencies, Chrome’s credentials are both impressive and diverse.
The company’s expertise includes SAP S/4 HANA data optimisation, decommissioning legacy systems, and driving digital transformation. These services have become essential for organisations looking to streamline operations, enhance cyber resilience, and comply with the looming SAP ECC support deadline.
Strategic Rationale
Atturra CEO Stephen Kowal didn’t mince words about the significance of the acquisition:
“This is yet another exciting acquisition for Atturra that makes us a true market leader in ECM in Australia, an important and growing segment of the IT services market. Chrome’s core offerings and its industry solutions strengthen Atturra’s portfolio, and we see significant upside in the potential to expand into enterprise solutions.”
The cultural and operational synergies between the two companies appear to be a natural fit. Kowal highlighted Chrome’s strong track record and complementary capabilities as a perfect match for Atturra’s growth ambitions, particularly in extending its enterprise solutions offerings.
Chrome CEO Mark Frear echoed the enthusiasm, describing the acquisition as a strategic leap for both companies:
“With Atturra, we can address the SAP ecosystem’s needs more effectively as the deadline for SAP ECC approaches. Combined, the acquisition will allow us all to tackle the significant opportunities ahead and deliver even more customer success.”
The Bigger Picture
Atturra has been steadily building its reputation as a trusted provider of enterprise IT services, with clients spanning local governments, utilities, education, defence, and financial services. Partnering with global heavyweights like OpenText, Microsoft, and Cisco, the company is well-positioned to integrate Chrome’s offerings seamlessly into its operations.
This acquisition aligns with Atturra’s strategy of targeting cutting-edge technologies and bolstering its capabilities to remain competitive in a rapidly evolving market. The company’s focus on ECM is particularly timely, as organisations face mounting pressure to manage data securely and efficiently while navigating complex regulatory requirements.
With the deal expected to close before year-end, Atturra must secure change-of-control consents under Chrome’s material contracts and meet other conditions precedent outlined in the Share Sale Agreement. Once these hurdles are cleared, the integration of Chrome’s team, led by Frear, Athol Hill, and Daniel Jewell, into Atturra will be a crucial next step.
The acquisition promises to unlock substantial opportunities for both companies. For Atturra, it solidifies its position as a market leader in ECM while paving the way for new growth avenues in enterprise solutions. For Chrome, joining forces with a larger partner like Atturra offers access to a broader customer base and expanded service capabilities.
Atturra’s acquisition of Chrome Consulting is a bold move that underscores the company’s ambitions to dominate the ECM space. As the IT services market becomes increasingly competitive, strategic acquisitions like this are critical for staying ahead of the curve.
The integration of Chrome’s expertise into Atturra’s ecosystem marks not just an expansion of services, but a reinforcement of its commitment to delivering top-tier IT solutions to clients across Australia and beyond. If all goes to plan, this acquisition could set the stage for a transformative 2025 for both companies
