ASX-listed digital services company BlueFreeway today announced plans to acquire three local digital design agencies based in Brisbane, Melbourne and Perth.
The combined revenue of the three companies is forecast to contribute an additional $5.275 million to the BlueFreeway group and to expand its presence in Queensland, Victoria and West Australia.
BlueFreeway announced today it is acquiring 51 percent of each of the three entities for a combined sum of approximately $1.2 million with additional payments over a three to five year period.
CEO Richard Webb said a number of drivers underpin the acquisition strategy.
"The first is to expand our geographic footprint by acquiring best of breed digital agencies in cities around the world. We are thrilled to bring these three agencies into the group, all of whom have a significant track record in servicing business and government in their regions," he said.
Queensland-based Digicon Pty Ltd provides design, application development, hosting and search engine marketing to its clients including the Department of Local Government, Sport and Recreation, Qld Department of Energy and the Residential Tenancies Authority of Qld.
Also based in Brisbane and with an office in Melbourne, JSA Digital's client base includes Rio Tinto, Bank of Queensland, Franklins and Dianna Ferrari.
In addition to digital design it provides interactive video services and e-marketing solutions.
Perth based Internet Business Corporation focuses on custom built online business software solutions for Web, Intranets and Extranets.
Clients include the Australian Institute of Management, Ashley and Martin and the Department of Health.