Communications and consumer electronics company Vita Group has acquired ICT provider Camelon IT as part of its first steps into the sector.
Vita says the acquisition will bolster its capability to offer ICT services and positions the group to take advantage of the shift to could based computing.
"Camelon's offerings add greater scale to Vita's existing products and services catering to small to medium businesses and enterprise customers, and complement its core mobile, fixed voice,broadband, and data products," Vita said.
Vita will pay an upfront price of $4.6 million and additional sums based on the delivery of performance targets over the next three years.
It will be funded from existing cash reserves and bank facilities.
Maxine Horne, Vita's CEO, said the acquisition is spearheading Vita's drive into the business ICT services market.
"We’ve been very impressed with Camelon's business model and its ability to guide business customers into new technologies such as Cloud and IP based communications. It is a natural fit for Vita and will have an important role expanding our presence in a key growth market," she said.