Over the Wire Holdings Limited (ASX:OTW) (“Over the Wire” or “Company”) is pleased to announce that it has completed the acquisition of all of the shares in Digital Sense Hosting Pty Ltd (“Digital Sense”). The acquisition was fully funded by an institutional placement and existing cash.
Headquartered in Brisbane and employing approximately 40 staff, Digital Sense is a high-quality cloud business that provides a customisable and scalable multi-cloud offering to Enterprise and Government customers.
- Acquisition of a leading Sovereign Cloud platform provider in Australia delivering proven solutions to the Enterprise and Government markets
- Introduces further solution capability in the areas of Infrastructure as a Service (IaaS), Desktop as a Service (DaaS), Storage as a Service (STaaS) and Data Protection as a Service (DPaaS)
- Extensive Cloud offering offers cross sell opportunities to existing Over the Wire customers and offers cross sell opportunities of Over the Wire solutions to Digital Sense customers
- Digital Sense accelerates Over the Wire’s growth and capability in our Cloud Solution pillar, resulting in further diversification of revenue across each of the Cloud. Connect. Collaborate. pillars
- Leverage Over the Wire’s existing national network to take Digital Sense’s offering national
- Strengthens Over the Wire’s ability to provide a complete and integrated solution set to Enterprise and Government customers across their data, voice and cloud requirements
- High quality management team committed to long term success
- High levels of recurring revenue with strong margins
- EBITDA and EPS accretive transaction
Commenting on the announcement, Managing Director Michael Omeros said, “Digital Sense is a high quality cloud business that delivers customisable and scalable multi-cloud solutions to Enterprise and Government customers and positions Over the Wire well to capitalise on the cloud industry’s strong growth outlook. We are very excited to welcome the team from Digital Sense to Over the Wire and we look forward to a positive 2020 Financial Year, as we continue to execute our strategy for growth.”