Australian technology services company, UXC, has purchased SAP services company Oxygen, a division of New Zealand-based Carter Holt Harvey.
UXC will have a supply agreement with Carter Holt Harvey for the provision of SAP consulting services by Oxygen until the end of 2010.
The acquisition is expected to settle on 31 January 2006.
Oxygen will become an autonomous business unit within UXC’s Business Solutions Group. Offers of employment will be made to all Oxygen staff.
Oxygen has 140 staff and a blue chip customer base on both sides of the Tasman which includes BHP Billiton, Cadbury Schweppes, Fonterra, Komatsu, Orica and Television New Zealand.
“This is the first acquisition in UXC’s A$20 million investment program to acquire technology companies in the Asia Pacific region,” says Geoff Lord, UXC executive chairman.
Oxygen first announced it was for sale in September, following a review of operations by parent company Carter Holt Harvey. The sale is only of Oxygen’s SAP consulting division; the other division of Oxygen, which provided in-house IT services to the rest of Carter Holt, will remain with Carter Holt.