Atturra acquires New Zealand-based managed services provider Plan B
Technology advisory and services firm Atturra has followed up last week’s purchase of Chrome Consulting with another acquisition – New Zealand-based managed services provider Plan B.
Previously confirmed to have been in advanced discussions, Atturra’s $20 million upfront purchase of Plan B, via subsidiary Cirrus Networks, cements the firm’s status as one of the region’s leading managed services providers.
Notably, the Auckland-headquartered company operates a network of five primary data centres across the country, catering to the hybrid cloud storage, digital infrastructure, and data protection needs of more than 1,000 clients.
“The acquisition of Plan B fits into Atturra’s ambition to be a leader in managed services and this expands our presence into New Zealand,” stated CEO of Atturra, Stephen Kowal. “Plan B is recognised as a trusted partner in New Zealand and this acquisition perfectly aligns with our strategy. We see it as a launchpad for further expansion both geographically and in capabilities.”
Based out of Auckland with further offices in Wellington and Christchurch, Plan B was originally established as ‘Business Continuity New Zealand’ at the turn of the century, before switching to its contemporary name four years in. Current CEO Frazer Scott was brought in in mid-2018, having previously spent a decade and a half at Microsoft, including as chief marketing & operations officer.
“Plan B is delighted to be joining Atturra in what is a significant milestone for both companies,” Scott stated. “We have a shared focus on people and customer success, making the partnership a natural fit. Our team remains committed to the business and delivering exceptional outcomes for customers, who will also benefit from the extensive capabilities and resources Atturra brings.”
The purchase of plan B comes barely a week after Atturra bought Melbourne-based ECM specialist Chrome Consulting for an initial payment of around $5 million, which in turn followed the firm’s most recent capital raise of around $65 million. According to ASX filings, the firm has now fulfilled two of its three current M&A targets, with another major supply chain tech advisory still to come.
On top of its purchase of management consultancy Exent in July, the new arrivals are expected to add up to $60 million to Atturra’s bottom line next financial year, with the firm already pushing the $250-million revenue mark, having grown by roughly 35 percent in CAGR-terms since its listing on the ASX in 2021, before which it operated under the name of FTS Group prior to its unification.
