Oxygen Business Solutions has bought Australian specialist SAP consulting firm Stream as part of its plan to grow with strategic acquisitions.
CEO Stuart Dickinson says Oxygen’s focus on growth is driven by SAP’s own forecast of doubling its revenues between 2010 and 2015.
“As a specialist SAP software and services company operating across Australia and New Zealand, Oxygen is investing in people and resources to ensure we have the breadth and depth and the scale that the rapidly growing SAP market requires,” he says.
The Stream acquisition adds around 40 SAP-trained consulting and support staff.
Stream, which was founded in 2006, has annual revenues of around $A10 million, with offices in Sydney, Melbourne, Brisbane and Perth.
Dickinson says the acquisition is in line with the strategic growth plans of Oxygen’s parent company, UXC.
The purchase is conditional on mutual contractual requirements being met. Completion is expected by the end of the month.