ASX listed MOQ Limited (MOQ) has announced the acquisition of a 100% stake in Perth IT consulting firm, Dienst Consulting (Dienst).
It signals the company’s latest strategic move to accelerate a national footprint into Western Australia and increase its capacity as a market leader in digital transformation.
MOQdigital, provides cloud-centric technology services and solutions, specialising in Microsoft’s Azure Cloud, to businesses across Australia.
Impacts of MOQdigital acquiring Dienst Consulting
The acquisition of Dienst was agreed at $3.78 million, which will be settled with 70% in cash ($2.65 million) and 30% in shares in MOQ ($1.13 million, up to a maximum of 5.04m shares).
It will also increase the local team to over 30 members.
MOQdigital CEO, Mr Joe D’Addio believes the acquisition provides a platform to accelerate the company’s growth on the back of Dienst’s combined foundational and cyber security service capabilities, and against a backdrop of an accelerated cloud transformation market.
“The acquisition of Perth-based Dienst Consulting builds on MOQ’s growth strategy and accelerates our entry into the Western Australian market.”
“Alan Hodson and his team at Dienst have, over the last 10 years, built a successful business by providing high value specialist services to a range of enterprise customers and partnering with leading technology providers such as Microsoft and Citrix,” he said.
“Dienst’s capabilities complement MOQdigital’s line of business and provides a platform for extending our digital and cyber security services‘ focus in the Western Australian market.”
Dienst reported an unaudited FY21 revenue of over $8.4 million.
Its client base comprises of over 100 businesses across a variety of sectors including WA Government, BHP, Fortescue Metals Group, South32 and Mineral Resources.
Dienst’s MD Mr Alan Hodson and his team will work with Mr Steve McNally, MOQdigital’s State Manager in Western Australia, to integrate the businesses and drive forward.
Hodson and McNally are highly experienced in leading edge technology services businesses.
Dienst consulting’s opinions on joining MOQdigital
Mr Hodson sees the acquisition as an exciting new chapter that will enable offering customers an enhanced set of services to assist with their digital transformation journeys.
“Dienst has built a 10-year legacy of service in the Western and South Australian markets.”
“Joining forces with MOQdigital is an exciting opportunity to further our capability and capacity to delivery world-class services and support to our current and future customers.”
“As part of MOQdigital, we will continue the acceleration of cloud adoption and digital transformation with end-to-end solutions from partners like Citrix and Microsoft to deliver hybrid infrastructure, collaboration, innovation, security, data and AI solutions.”
“The acquisition by MOQ will enable Western Australian businesses to leverage solutions that increase efficiencies, improve processes and dramatically impact the bottom line.”
“This might involve solutions ranging from unlocking the value of data insights to enabling remote mine-site inspections by Perth-based engineers though mixed reality.”
“Companies that embrace digital transformation grow in profitability and market share. We are delighted to be in position to provide the end-to-end services required to enable this.”
The acquisition of Dienst by MOQ follows the acquisition of Brisbane-based WARDY IT Solutions in 2019. MOQ has plans to continue its expansion program through further acquisitions to strengthen its operational and market position.