Australian consulting firm Atturra acquires Exent for $8 million

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ASX-listed consultancy Atturra is continuing its string of major acquisitions, announcing it will acquire Brisbane-based Exent in a deal valued at a whopping A$8 million.

That is higher than the $5 million spent to acquire Sabervox last September and about half of the $16.5 million spent to acquire veteran MSP Somerville in April of the same year.

Exent is a consulting firm that bills itself as an alternative to the Big Four in providing clients with support across technology, process, people and data. In addition to its Brisbane headquarters, the company maintains offices in Sydney and Melbourne.

He was ranked 33rd in Australia^{r & d} the fastest growing company last year, according to the AFR Fast 100 ranking.

“More and more businesses are looking for a trusted advisor who can help scope large-scale technology change programmes and then advise on this complex transformational activity,” said Stephen Kowal, CEO of Atturra, in a statement to investors on the ASX.

Kowal noted that Atturra and Exent have worked together in the past, engaging clients from local governments and educational institutions.

“The Exent management team is excited about this acquisition, which expands our capabilities and service offering to clients,” Exent managing partner Phil Fowdar told the ASX in a statement. “Our depth in complex, technology-led transformation and commitment to delivering results will be significantly enhanced by Atturra’s resources and reputation.”

A year of significant revenue growth

Coinciding with the acquisition announcement, Atturra released its full-year financial results, with revenue exceeding $240 million—an increase of 35% compared to the prior period.

As noted in the statement, the revenue increase is the result of three major acquisitions — Somerville, Sabervox and Cirrus Networks. Those acquisitions also caused EBIT to decline 18% year over year, but the company attributes much of that to a one-time cost rather than any other ongoing factors.

“FY24 was a transformational year for Atturra. We actively executed our strategy to build our managed services capabilities and successfully integrated the managed services acquisitions, Somerville, Sabervox and Cirrus, into a single, thriving business unit,” Kowal said in a statement. “I see continued strong growth, both organic and inorganic, of over 20% in revenue in FY25, while maintaining our historic 10.5% underlying EBITDA.”

These acquisitions and moves to strengthen Atturra MSP’s business come at a time of significant opportunity in the A/NZ market. AI and cybersecurity have been identified as two of the most significant opportunities, but there is a general demand for outsourcing services and support of all types.

It’s just the latest in a series of mergers and acquisitions in the region, with Excite Cyber ​​​​announcing its intention to acquire CBIT Digital Forensic Services for A$4 million in June.