ATTURRA LIMITED — M&A Activity 2024

Nov 21, 2024

Atturra Limited ABN 34 654 662 638

==> picture [95 x 24] intentionally omitted <==

ASX Announcement 22 November 2024

Atturra to acquire Melbourne-based Chrome Consulting, a leading OpenText Enterprise Content Management partner

Key highlights:

• Atturra Limited ( Atturra ), through its subsidiary Anatas Pty Ltd (ACN 133 185 458) to acquire Chrome Consulting Pty Ltd (ACN 624 013 663) ( Chrome ) ( Acquisition ), an award-winning OpenText partner delivering enterprise content management ( ECM ) advice.

• The Acquisition will cement Atturra’s position as a market leader for OpenText ECM in Australia, supporting customers with the largest certified team of consultants, and will expand Atturra’s data services portfolio to SAP and Microsoft enterprise landscapes and expand Atturra’s client base in OpenText.

• The Acquisition will complement Atturra’s data and integration practice by strengthening its ECM capability, supported by strong governance and compliance.

• The upfront consideration is $4.0M in cash and $1.0M in shares, with earn-out/post-completion consideration of up to $2.5M in cash subject to Chrome achieving performance hurdles based on audited EBITDA targets for FY25 and FY26. The purchase price, including upfront and deferred consideration, is based on a multiple of 7.5x forecast EBITDA. Integration costs have been budgeted at $300,000.

Sydney, 22 November 2024 – Atturra Limited (ASX: ATA), a leading technology services business in designing, implementing, and maintaining IT solutions, is pleased to announce that its subsidiary, Anatas Pty Ltd, has exchanged a Share Sale Agreement ( SSA ) to acquire Chrome Consulting Pty Ltd.

The Chrome Acquisition is “Acquisition 3” referred to on page 17 of the Capital Raise presentation released to the market on 13 November 2024.

Melbourne-based Chrome is an award-winning SAP/OpenText partner. Chrome is redefining end-to-end ECM services within the SAP ecosystem, delivering seamless services from strategic advisory through to implementation and ongoing support. With an impressive track record, Chrome empowers SAP customers on their S/4 HANA data optimization, decommissioning and transformation journeys. Chrome consistently drives results that improve cyber resilience, accelerate efficiency and unlock value for clients.

CEO of Atturra, Stephen Kowal, said:

“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. The synergies between our service offerings and the cultural alignment of both companies are very strong. 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, something I mentioned in the FY24 Annual Results Presentation.

This is another great step in Atturra’s strategy of picking leading technologies, as part of our technology strategy, and focusing on being a market leader, ensuring we can offer best-in-class solutions to our clients.

Atturra Limited ABN 34 654 662 638

==> picture [95 x 24] intentionally omitted <==

We welcome Mark Frear, Athol Hill and Daniel Jewell and the wider Chrome team to Atturra and look forward to working closely with them to integrate the Chrome business into Atturra.”

CEO of Chrome, Mark Frear, said:

“This is an exciting move for Chrome accelerating the next stage of growth as Atturra brings a similar partner-friendly attitude and culture while adding significant complementary capabilities in service delivery managed support and a different customer base. Combined, the acquisition will allow us all to tackle the significant opportunities ahead and deliver even more customer success.

With Atturra we can address the SAP ecosystem’s needs more effectively as the deadline for SAP ECC approaches”

The transaction is expected to be completed on or around 24 December 2024 subject to the satisfaction of conditions precedent in the SSA, including obtaining change-of-control consents required under Chrome's material contracts.

The SSA otherwise contains additional provisions (including conditions precedent, representations, warranties and indemnities) considered usual for agreements of this nature.

- ENDS –

This announcement has been authorised for release by the Board of Atturra Limited.

About Atturra:

Atturra is an ASX-listed technology business providing a range of enterprise advisory, consulting, IT services and solutions with a focus on local government, utilities, education, defence, federal government, financial services and manufacturing industries, Atturra has partnerships with leading global providers including Boomi, Cisco, HP, HPE, Infor, Microsoft, Nuix, OpenText, QAD, Smartsheet, Snowflake, and Software AG, and its clients are some of the largest public and private sector organisations in Australia. For more information visit: www.atturra.com.

About Chrome:

Headquartered in Melbourne, Chrome Consulting was founded in 2014 and has grown to be the largest OpenText consultancy in ANZ specialising in the deployment of OpenText in an SAP context. Implementing over 80% of the OpenText Extended Content Management (xECM) projects in ANZ has given Chrome realworld experience from complex commercial sites with over 15,000 users dispersed across 120 countries to complex federal and state government agencies to mining and utilities in some cases covering 100,000s of users. Chrome was awarded the joint SAP/OpenText Partner of the Year – SAP Solution Extensions award for 2020.

Contacts:

Investors Media Danny Younis Dylan Mark P: 02 8260 7919 P: 02 8260 7918 E: investorrelations@atturra.com E: media@atturra.com