Dicker Data Limited (ASX: DDR) (Company) is pleased to announce the that it has entered into a binding Sale and Purchase Agreement (SPA) to acquire 100% of Connect Security Products Limited (CSP), New Zealand’s leading distributor of access control, surveillance and fire products. CSP represents a highly strategic acquisition and a valuable addition to Dicker Data’s Access and Surveillance (DAS) platform as it will accelerate the launch of the DAS business in the New Zealand market with key brands Bosch, Sony, Assa Abloy, HID, Motorola and more.
The combination of Dicker Data and CSP is expected to deliver compelling growth opportunities for both businesses through the combined Trans-Tasman network and expanded capabilities. Similar to DAS in Australia, CSP will run in parallel to Dicker Data’s existing New Zealand operation and will leverage shared services such as finance, warehousing, logistics and marketing, with the product and sales functions operating independently. CSP’s majority shareholder and Founder, Jason Mackie, will continue leading the business post-acquisition, including managing a team of 10 Auckland-based staff, 2 Christchurch-based staff and 2 Wellington-based staff, in addition to the three branch locations located throughout New Zealand.
Chairman and CEO, David Dicker, Dicker Data Limited said “Our acquisition of CSP provides a strategic and fast-tracked entry to the New Zealand market for our access and surveillance business. Given the business holds strong market share and is already delivering a profitable result, I’m confident that we’ll be able to the capitalise on the new opportunities quickly, across both Australia and New Zealand to deliver a strong result for our shareholders.”
The competitive advantage a local distributor brings is deeply engrained in Dicker Data’s DNA, and every reseller partner who works with the CSP business today should be reassured that the seamless continuity of their business is the utmost priority as CSP is integrated into Dicker Data. There are strong cultural similarities between the two organisations that the Company believes will enable an expeditious integration process.
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Security licensing requirements for the install, servicing and selling of security systems
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