To further its growth strategy in Australia and New Zealand, Canon Business Services ANZ (CBS) has acquired West Australia-based Satalyst. Financial terms of the deal were not disclosed.
This is technology M&A deal number 130 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
The acquisition strengthens CBS' application, security, data and AI capabilities and gives Microsoft specialist Satalyst a stronger foundation for growth and expansion plans, according to a statement from CBS.
Accelerating Growth: Canon Business Systems Acquires Satalyst
Satalyst is a Microsoft cloud and security partner with customers in Western Australia, Queensland and South Australia. The acquisition by CBS will help accelerate the company’s expansion across Australia’s eastern seaboard, according to the company.
Canon Business Services (CBS) ANZ was formed by the merger of Harbour IT and Converga. Australia and New Zealand are key strategic regions for Canon, and CBS is a key business that contributing strongly to its overall revenue and is forecast to grow rapidly over the short- to medium-term following the acquisition, according to CBS.
The combined firm will focus on three key areas: Security, cloud and automation, according to the company. Adding Satalyst’s services to its offering helps expand CBS’ capability into application, DevOps, data and AI, according to CBS.
This continues the trend of printer, copier and office equipment companies acquiring MSPs and IT solutions providers worldwide. For instance, Canon rival Xerox has made a number of acquisitions.
Executive Insight
CBS CEO Luke Clark commented on the news:
“Satalyst is an excellent strategic and technical fit that broadens our capabilities and supports our commitment to local innovation, businesses and services. The business shares our values, is aligned with our customer portfolio and has enjoyed significant growth during the past two years. We’re thrilled to have them join the CBS family, growing our application, data and AI capability while deepening our security offering.”
Todd Elliott, CEO, Satalyst added:
“We’re delighted to join forces with CBS and look forward to playing our role in achieving future growth plans. We’ll continue to do what we do best in transforming business processes and productivity across Australia with Canon’s support. Collectively we’re a big, new local player in the market, and that’s exciting.”
