Dimension Data has completed the $171 million acquisition of Oakton after shareholders approved the transaction in a landslide vote. The meeting of Oakton shareholders on October 31 saw 99.46 per cent of votes cast, in person and by proxy, were in favour of the acquisition.
The transaction was subsequently approved by the Victorian Supreme Court on November 7. Dimension Data Australia chief executive, Rodd Cunico, said, the acquisition of Oakton aligned with the company's strategy to address the challenges its clients faced as they transformed to harness the opportunities of becoming digital enterprises.
"Oakton's top-end consulting capability, combined with Dimension Data's expertise across ICT infrastructure integration, Cloud, and outsourcing services, enables us to create, deliver and manage end-to-end business solutions for our clients," he said.
"With Oakton's 1,200-strong workforce and Dimension Data's 1,900 employees, we expand Dimension Data's presence in Australia by over 60%, and significantly broaden our skills and capabilities.
"Put simply, this is a game changer for the Australian market place."
Oakton chief executive, Neil Wilson, said Dimension Data and Oakton had a complementary value proposition and footprint and there would be no change in Oakton's current business strategy. "Our partnership over the last eighteen months has been very successful. Being part of the same company, we can further accelerate our joint go-to-market positioning and market share acquisition opportunities," he said.
"I'm looking forward to working with Dimension Data to continue driving local innovation in order to address our client's current and future business challenges.
"By being at the table together, the thinking gets connected and opens up more strategic opportunities to transform the way our clients do business."