Atturra acquires Microsoft partner Hammond Street Developments
Atturra has acquired Hammond Street Developments, an IT consultancy specialised in Microsoft implementation services.
Based out of Melbourne, Hammond Street Developments provides consulting, systems development, integration and maintenance services to clients in the government sector. The Microsoft partner has around 100 staff, with further locations in Sydney, Canberra and Adelaide.
“The addition of Hammond Street Developments to the Atturra family demonstrates our commitment towards growing our business in the government sector, in particular the Victorian public sector and to Microsoft, one of our main technology partners,” said Atturra CEO Stephen Kowal.
According to a statement from Atturra on the Australian Securities Exchange, the purchase price is $6.5 million, with $6 million paid in cash and $500,000 settled through a share transaction. Additionally, the owners of Hammond Street Developments also have a potential earn-out/post completion consideration of up to $2 million in cash based on the firm hitting certain targets during the financial years ending in 2023 and 2024.
Narendra Tomar, the CEO of Hammond Street Developments, said: “This is an exciting move for our team, clients, and our partners. In considering this transaction it became clear to us that Atturra shares our relentless quest for client focus, team culture and values and is respected widely for its authenticity and service excellence.”
Hammond Street Developments was advised during the deal by SCD Advisory.
In fiscal year 2022, ASX-listed Atturra completed three acquisitions, which include Mentum Systems, Kettering Professional Services and Hayes Information Systems.
