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SMS Management acquires Renewtech

SMS Management acquires Renewtech

IT management and technology services company SMS Management and Technology (ASX:SMX) has arranged to acquire systems integrator Renewtek for an undisclosed sum.

Renewtech provides specialist enterprise content management and business process management solutions, and is a leading implementation provider of IBM's Filenet solutions.

SMS said the acquisition will provide it with annualised revenue contributions of $17.3 million and ebitda contributions of $2.5 million.

The Renewtech business will be integrated into SMS' operations over the next three months, and the acquisition should be EPS accretive from January 2011.

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Tags SMS ManagementASX:SMSMergers and acquisitions

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