The majority of S Central staff will retain their jobs following the company’s acquisition by Brennan IT. However, S Central managing director, Peter Mavridis will find no new home at Brennan, the company has confirmed.
According to Brennan IT managing director, Dave Stevens, the company will be employing about 90 per cent of the remaining S Central staff, while managing director Peter Mavridis, will not be transitioning to the company.
Stevens said despite the recently failed three-way deal between Synergy, ComputerCorp and S Central, Brennan had not picked up S Central at fire sale prices.
“Brennan believes that it has acquired S Central at a fair market price and will ensure continued service excellence to customers,” Stevens said.
“The deal provides Brennan with an extended customer base, more geographic reach and some new distribution relationships that augment the existing core Brennan business.”
With Brennan’s sustained growth since 2002, it made sense to use the company’s continued financial and business stability to acquire other players that become available, Stevens said.
“Against a backdrop of the global financial crisis, the role of IT in delivering performance improvements and business efficiencies remains undiminished, and Brennan leads in delivering solutions of this kind to the Australian market – there continues to be a strong and growing market for Brennan to deliver service to,” Stevens said, adding the impact of the acquisition on the local services market would not be a negative one.
“S Central competed against Brennan in a limited number of markets. Naturally, the removal of any market players presents opportunities for those that survive – the Darwinian view of survival of the fittest,” he said.