SYDNEY: Atturra Limited (ASX: ATA), a leading technology services business in designing, implementing, and maintaining IT solutions, announced that its subsidiary, Cirrus Networks Holdings Pty Ltd, has exchanged a Share Sale Agreement (SSA) to acquire Plan B.

Proceeds from the recent capital raise will be used to fund the purchase price for the acquisition.

Auckland based Plan B is a leading provider of managed network, connectivity and cloud services to businesses in New Zealand and Australia. Plan B owns and operates a national network of five primary DCs across New Zealand’s North and South Islands.

These DCs are interconnected through a high-speed network backbone, the core network is private and dedicated to Plan B customers providing reliability and control along with real-time flexibility. Plan B has a very high level of recurring revenue with a diverse and loyal customer base across the ANZ region.

The acquisition continues to increase the service offering, geographical and customer coverage in Atturra’s managed services business.

CEO of Atturra, Stephen Kowal, said: “The acquisition of Plan B fits into Atturra’s ambition to be a leader in managed services and this expands Atturra’s presence into New Zealand. We see the acquisition of Plan B as a launchpad for further expansion both geographically and in capability, particularly with its network of five primary DCs across New Zealand.

Plan B is recognised as a trusted partner in New Zealand and this acquisition perfectly aligns with our strategy We welcome Frazer Scott and the wider Plan B team to Atturra and look forward to working closely with them to integrate the Plan B business into Atturra.”

CEO of Plan B, Frazer Scott, said: “The team at Plan B are delighted to be joining Atturra in what is a significant milestone for our companies.

Plan B and Atturra have a shared focus on people and customer success, making the partnership a natural fit. The team at Plan B remains committed to the business and delivering exceptional outcomes for customers, who will also benefit from the extensive capabilities and resources that Atturra brings.”

The transaction is expected to be completed on or around 2 December 2024.