We made a very important announcement this month marking a huge step forward in our expansion into Asia. We were to close a deal to acquire asset-lifecycle management player Convergence Team Ltd. Visit the press release on our web site for the details: http://www.uxcredrock.com/news-events/red-rock-in-the-news/878-uxc-red-rock-consulting-announces-acquisition-of-convergence-team
But on the basis of the deal I spoke to one of Australia’s leading IT journalists – Fran Foo, Deputy Editor at The IT section of The Australian newspaper about our plans, and here is the coverage we received as a result:
UXC Red Rock to expand in Asia
ORACLE software specialist UXC Red Rock has acquired asset life cycle management provider Convergence Team as it seeks to further expand into the Southeast Asian market.
UXC Red Rock will absorb about 30 staff from Convergence Team to add to its 600 staff in 11 offices in Australia, New Zealand, Singapore and India.
Brisbane-based Convergence Team will be folded into UXC Red Rock’s consulting practice and led by asset life cycle management industry director Stuart MacDonald.
UXC Red Rock CEO Jonathan Rubinsztein declined to reveal financial arrangements but said the company had been working with Convergence on a project two years before the acquisition on a few projects in Asia-Pacific.
“It’s (the acquisition) a good opportunity for more growth in Southeast Asia … it will allow us to grow in asset-intensive industries,” Mr Rubinsztein said.
He said the deal would extend the group’s capability to cover more Oracle applications. UXC Red Rock is the software giant’s largest partner in Australia.
It will also help UXC Red Rock make further inroads into engineering, construction, mining and utilities markets, he said.
UXC Red Rock is a subsidiary of ASX-listed UXC and counts Blackmores, Coca-Cola Bottling, Indonesia, Corporate Express, Wotif, Heinz Australia, Lion Nathan, Australian Vintage, Bis Industries, Engineers Australia, SEQ Water Grid Manager and New Zealand fertiliser co-operative Ravensdown as customers.
Convergence Team has clients across a range of industries such as chemicals, financial services, manufacturing, healthcare, hospitality, power and energy, and oil and gas.
They include ExxonMobil Chemicals, Shell Chemicals, Unilever, GE Wind, Veolia Water, Constellation Energy, Keppel Energy, Western Container Corp, SingHealth, Singapore Land Authority, UOB Bank, Resorts World Sentosa and Marina Bay Sands.
Solution providers for Oracle rival SAP are also experiencing consolidation. For instance, Victorian IT services company Viatek earlier this year acquired CN Group, an SAP consulting specialist in Sydney.