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Synergy moves to meet e-Business demand growth

NEWS RELEASE Embargoed Until: MAY 29 2000

Synergy moves to meet e-Business demand growth

To meet the growing demand for its e-Business solutions and services in Australia and New Zealand, Synergy International has acquired all the shares in Innovus Limited.

Synergy, already a major player in the New Zealand management consulting and information technology services sector, is finding that unfulfilled demand in both markets is fuelling the need for the company to grow and grow quickly, Synergy chief executive, David Irving said today.

“Acquiring Innovus is part of the natural evolution of our business,” he said. “We have had a healthy working relationship with them for many years, on occasion pitching together for the same business. The idea that we join together has been discussed from time to time and now the timing is right for both of us.

“We believe this acquisition will contribute significantly to our ability to penetrate the Australian market successfully as well as reinforce Synergy’s position as one of New Zealand’s leading management and information technology consulting firms,” he said.

“Innovus brings a strong team of highly respected management consultants and will augment our existing management consulting, Internet consulting, software development and support services. The opportunity to acquire a strong service provider such as Innovus is timely and fits well with our growth strategy.”

Innovus chief executive, Donna Hiser said the acquisition will bring two very successful New Zealand organisations together, with many benefits for both clients and staff.

“The combined organisation will have more than 200 people, in offices in Auckland, Wellington, Sydney and Melbourne. Synergy will gain an even stronger presence in the business and technology consulting arena.

“Together we will have an elite business consulting group, backed by a very substantial pool of systems and technical resources,” Donna Hiser said.

“Last year Innovus acquired SpunkMedia, a young startup Internet consulting firm while Synergy purchased Agility Software Limited in early 1999,” Mr Irving said.

Brenda Leeuwenburg and Vance Reavie of SpunkMedia@Innovus will remain with the combined group.

“Synergy’s ability to provide businesses with end-to-end solutions is greatly enhanced with this purchase,” Mr Irving said. “Starting with organisational visioning and strategy planning we can provide all services right through to design, implementation, testing and support.

“Immediately being able to add the Innovus Melbourne office to our recently established office in Sydney means we can fast track our entry into Australia.”

Mr Irving and Ms Hiser said the culture and values of the two companies were similar and complementary and the integration of the operations should be straightforward.

“Both have cultures that focus on professional expertise and integrity, as well as a commitment to service delivery excellence,” they said.

“Our combined client base includes such companies as New Zealand Post, Department of Work and Income, ENZA, TransAlta, AMP, Transpower, ACC, The Correspondence School, Otago University, the Employers and Manufacturers Association, Deltec and all of the Government control agencies,” Mr Irving said.

Synergy is a Top 500 company specialising in the delivery of professional management consulting and information technology services. It has traded profitably since it was founded in 1992 and, in the last two financial years, has experienced 159% growth.

The company also won the Professional Gold category in the Wellington Region Gold Awards held last week and were highly-commended for the Dominion Wellington Region Gold award for business enterprise and excellence. Synergy has also had success in benchmarking against companies worldwide.

It was the Private Sector Winner of the 1998 Business Development Quality Award and received the New Zealand Quality Foundation 1999 Progress Award.

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Issued on behalf of Synergy International Limited by Sigma Group (Wellington) Limited (Daniel Paul), Telephone (04) 472-8961. For further information contact Heather Lucas Telephone (04) 499-3000 Donna Hiser, Innovus Tel.(04) 472 0877 or Mob: (025) 294 8887.


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