Atturra’s $90m acquisition spree to help it take on Accenture, IBM

Shareholders who bought into Perth-based Cirrus Networks 18 months ago have more than doubled their investment, amid an acquisition spree in the sector to help local IT service providers take on foreign giants such as IBM and Accenture.

ASX-listed IT solutions business Atturra finalised its acquisition of Cirrus Networks for $57.3 million or 6.3¢ a share on Monday. In June last year, the company’s shares were fetching 2.8¢ apiece.