Atturra wraps up Exent acquisition

Atturra has completed its acquisition of consulting firm Exent for an upfront consideration of $6 million.

The deal, which was completed via the the IT solutions provider’s subsidiary, Atturra Holdings, via a share agreement with an additional $2 million on offer subject to the firm achieving performance hurdles for the first half of the 2025 financial year.

Atturra announced the acquisition in mid-July and claimed the purchase price, including upfront and deferred consideration, was calculated on a multiple of 6.5 times of Exent’s forecast earnings before interest, tax, depreciation and amortisation (EBITDA) contribution to the IT solutions provider, excluding forecasted integration costs of less than $400,000.

ARN understands that the firm will be rebranded as part of Atturra Advisory within 12 months and all but one employee will make the transition over to the new ownership, with the staff member in question advised during the change process.

Additionally, ARN also understands that Extent is starting to recruit for more staff as a result of opportunities that have already arisen in joint accounts.

Exent managing partner Phil Fowdar said the acquisition expands the firm’s capabilities and service offerings, as well as provides “tremendous” career opportunities to its team.

“Our depth in complex technology-enabled transformation and commitment to outcomes will be greatly enhanced by the resources and reputation of Atturra,” he said.

“We see enormous potential to bring our advisory capability to the breadth of Atturra’s technology capabilities. With Atturra, we have a strong shared vision, backed by the scale and depth in business and technology transformation, to create a leading full-service firm with a difference.”

Atturra CEO Stephen Kowal added that there is a strong cultural alignment between both parties and the IT solutions provider looks forward to welcoming Fowdar and the Exent team.

“There is an increase in businesses looking for a trusted advisor with the capability to help scope extensive technology change programs and then advise on this complex transformational activity,” Kowal said.