Thursday, November, 26, 2020 07:06:51
MOQ buys Wardy IT in USD 7.5 Million deal to boost digital services
- The company has acquired fellow Microsoft partner Wardy IT in a deal valued at $7.5 million.
- The 60 Wardy IT staff across Australia & New Zealand to join MOQ.
Australia based MOQ has reportedly inked an agreement to acquire its fellow Microsoft partner, Brisbane based Wardy IT solutions in a deal worth USD 7.2 million. The deal is expected to be paid both in cash of USD 2.5 million and MOQ shares of over USD 5 million.
Peter Ward, the founder and managing director of Wardy IT solutions was reported mentioning that the company is excited to be a part of the MOQ team as it had actively partnered with MOQ team over a great number of projects over the last 5 years. It looks forward to strengthening the cloud practice and developing the combined data platform and data analytics sector along with progressing to offer the high quality of service to its customers.
As per credible reports, Peter Ward is expected to remain with the business and the key management team after the acquisition terms conclude. Additionally, he has also been reported to become a substantial shareholder in MOQ.
For the uninitiated, Wardy IT was formed in the year 2004 and is a Microsoft expert offering data platforms advisors, instructors and data analytics experts. The company has its offices in different cities of Australia and New Zealand.
Reportedly, MOQ assumes the acquisition to be concluded by September this year, following the roll out of strategic and communication models across all investor groups to ensure steady service and engagement.
Meanwhile, Joe D’Addio, CEO of MOQ was quoted citing that the acquisition of Wardy IT is a commendable strategic move for MOQ and aligns with company’s vision to develop, shape and attain cloud-centric complementary technology businesses. The company is pleased to welcome the Wardy IT team and its market- leading proficiency in data architecture, optimization and management onboard on the Microsoft platform. The abilities offered by Wardy IT serve as a difference for MOQ and benefits the customers through its strengthened resources in the domain.
Source credit: https://www.arnnet.com.au/article/665164/moq-acquires-wardy-it-solutions-7-5m-deal/