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UPDATE: Dicker Data To Acquire Division Of Hills

UPDATE: Dicker Data announced today it will acquire the Security and Information Technology (SIT) distribution division of Hills Limited.

“This will add an entirely new Business area to our company and introduce us to a wide range of new customers, as well as adding significant new revenue with the promise of significant expansion on that, going forward,” said Chairman and CEO, David Dicker.

The agreement will see Dicker Data “transition 130 of the Hills team members and assume responsibility for a nationwide network of seven trade centres.”

In addition, a new physical security business unit will be created, led by Chris Price, former Commercial Director of Dicker Data, between 2006 and 2014.

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ASX-listed IT distributor Dicker Data is set to buy a slice of Hills Australia, which sells security and network technology solutions.

Both Hills and Dicker have been placed in a trading hold.

Last year Amber Technology Limited and Hills Limited announced that they had reached agreement for the sale of the Hills Audio Visual (AV) business to Amber.

The majority of AV personnel – including sales, business development, product management and technical staff transferred to Amber Technology.

Dicker Data claim that their move is not a complete takeover of Hills.

Dicker Data had a $2.5 billion market capitalisation.

The Sydney based distributor, posted $2 billion full-year revenue for the first time in 2020.

Share price has steadily climbed up over the years but was a massive beneficiary of COVID.

The AFR reported that the distributor, tried to open up its shareholder register in recent years, including a sell down by founder David Dicker and a secondary capital raising via JPMorgan.

Hills Australia, best known for the Australian invention Hills Hoist in 1945, got out of clotheslines and gardening products in 2014 in a deal with Woolworths, which got the exclusive distribution rights for 19 years. Hills pivoted to health-related software and technology.



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