Anatas Pty Ltd, a subsidiary of ASX listed Australian company Atturra, is acquiring Chrome Consulting, a specialist OpenText partner for enterprise content management (ECM) within SAP environments.

Chrome has implemented over 80% of the OpenText Extended Content Management (xECM) projects in ANZ.

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.
Chrome provides end-to-end ECM services within the SAP ecosystem, from strategic advisory through to implementation and ongoing support.

It assists with SAP S/4 HANA data optimization, decommissioning and transformation.

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.”

The transaction is expected to be completed on or around 24 December.