Companies news
HSD sold to ATTURRA - SCD Advisory acted as sell-side advisor
SCD Advisory advised HSD (Microsoft service provider) on their sale to ASX listed Atturra.
Atturra Limited, an advisory and Technology services business in designing, implementing, and maintaining IT solutions, announces its subsidiary, Veritec has exchanged a Share Purchase Agreement (SPA) to acquire Hammond Street Developments (HSD). SCD Advisory acted on the sell side. The HSD team specialises in Microsoft services provided to the government sector including the Victorian public sector.
CEO of Atturra, Stephen Kowal, said:
“The addition of HSD to the Atturra family is highly beneficial for our clients and shareholders and demonstrates our ongoing commitment towards growing our business in the government sector, in particular the Victorian public sector and to Microsoft, one of our main technology partners. HSD have a very strong client focus which is evident in their recurring revenues across their top 10 clients, and I am looking forward to working with Narendra and the HSD team.”
CEO of HSD, Narendra Tomar, added:
“This is an exciting move for HSD, our team, our valued and supportive clients, and our partners. In considering this transaction it became clear to us that Atturra shares our relentless quest for client focus, team culture and values and is respected widely for its authenticity and service excellence. The team at HSD are very proud of the business solutions we have delivered to our clients and are committed and excited to build on this value for our clients as part of the Atturra team.”
“SCD Advisory’s deep understanding of the IT services consultancy sector proved invaluable in executing a deal with Atturra. We were highly impressed with SCD’s ability to act in our best interests throughout the transaction and conduct negotiation in a professional manner.”
Pierre Briand, Founder of SCD Advisory, concluded:
“We wish Narendra and his team all the best with Atturra, a leading IT services company listed on the ASX. This deal is a good example of SCD’s priorities for shareholder alignment and ability to deliver in the IT services sector, an area of our specialisation.”
Source: SCD Advisory
