UXC to buy ServiceNow reseller for up to $28m
ICT consulting and services provider UXC Limited has arranged to buy Keystone Management Solutions, Australasia’s largest ServiceNow reseller, in a deal worth up to $28 million.
ServiceNow is a global provider of cloud-based IT service automation products and services. The company has a market capitalisation of around $7.6 billion.
UXC announced a commercial partnership with ServiceNow in August and said the Keystone acquisition is aimed at broadening its enterprise service management product portfolio.
UXC will pay between $24 million and $28 million in a mixture of cash and shares for the acquisition, depending on the meeting of certain performance targets.
The deal will give UXC access to Keystone’s 120-plus enterprise, government and education sector customers. KeyStone will be rebranded UXC KeyStone as part of the acquisition.
“The acquisition of Keystone and the partnership with ServiceNow is very much part of the UXC strategic direction,” UXC Managing Director Cris Nicolli said. “We see the high-growth, cloud-based IT service automation market, coupled with our strong ITSM experience in Australia and Southeast Asia, as ideal platforms to combine with Keystone.”
Nicolli said he expects the KeyStone acquisition to start making a positive contribution to earnings from the second half of 2014.
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