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Gen-i acquires Computer Plus Otago


Media release

Gen-i acquires Computer Plus Otago … Merger creates new ICT leader for Otago region …

Auckland, 19 February 2008 - Gen-i today announced that it has agreed to acquire Computer Plus Otago (CPO), the Gen-i franchise operating in the Dunedin and Queenstown markets.

The purchase forms part of Gen-i’s strategy to grow its business through a three-pronged approach of organic growth, strategic alliances and acquisitions. The initiative strengthens the Gen-i brand, ensures a greater focus on Gen-i’s business priorities and extends its capability, with greater technical reach and depth of resource.

Paul Deavoll, Gen-i’s Head of Regions South, said that the merger is a natural extension of the strong partnership between the two teams in the region.

“CPO is a very successful business, with a consistent track record of growth and strong partnerships with a range of enterprise and corporate clients,” said Deavoll. “It is the largest of our nine franchises, with strong IT capabilities across sales, support, procurement and technical expertise.

“The acquisition is actually a merger of equals, and creates a new ICT leader for the Otago region,” said Deavoll. “CPO’s skills and expertise in IT nicely complement our strengths in telecommunications, and the new organisation will combine the services and expertise of people from both companies.”

CPO had been placed on the market by its owner, and the acquisition is the result of several months of planning. Gen-i has completed a robust due diligence process, and settlement is targeted for 29 Feb 2008.

The two businesses will remain intact while Gen-i considers how to integrate them during a four month transition period. The new integrated organisation will start at beginning of July 2008, the start of Gen-i’s next fiscal year.

Chris Quin, General Manager of Gen-i New Zealand, added that the acquisition is designed to provide Gen-i’s Otago clients with an unrivalled range of ICT skills and capabilities, both now and in the future.

“Our clients are responding positively to our ability to provide the full spectrum of services that span the technology and telecommunications sectors,” said Quin. “This initiative aims to provide even greater clarity for clients, giving them the ability to do business with local decision makers, but also gain all the advantages of our national capability.”

Bryan Morton, Principal of Computer Plus Otago, said he was delighted at the opportunity to bring the two organisations closer together and was looking forward to the new benefits this would bring staff and clients.

“The merger reinforces Gen-i’s commitment to regional clients, with an even greater investment in our people and services,” said Morton. “I’m looking forward to developing an even stronger breadth and depth of capability and sharing these benefits with our clients.”

About CPO CPO is the leading ICT player in the Otago region, delivering customised ICT solutions for corporate and enterprise/ME businesses. With a consistent track-record over last four years of revenue and EBIT growth, CPO’s core products and services are end to end ICT services. Its clients include the University of Otago, Otago District Health Board, Forsyth Barr and Otago Polytechnic. CPO employs 22 people full time in sales, service and administration.

About Gen-i Gen-i is at the forefront of helping customers take advantage of the convergence of technology and telecommunications, and the new opportunities this makes possible.

Gen-i works alongside its 3,000 corporate, government and business customers to deliver seamless and integrated ICT solutions. A member of the Telecom New Zealand Group, Gen-i achieves this with the support of 2,000 highly skilled people in 17 locations across New Zealand and Australia. For more information on Gen-i, visit www.gen-i.co.nz


Ends


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