Dicker Takes Over Exeed
Technology hardware, software, and cloud distributor Dicker Data, has agreed to acquire New Zealand IT distributor Exeed Group.
Dicker stock rose 11.2 per cent at the news as its CEO David Dicker said he had been hunting Exeed for more years than he could count.
The transaction will see Dicker Data NZ become the second largest IT distributor across the ditch with estimated revenue of over NZD $500 million.
Exeed holds a prominent market share across a number of the vendors and the acquisition will provide Dicker Data NZ with the platform to rival the largest distributor in the NZ market using a mixture of unique local market knowledge and access to an increased range of world leading brands.
The acquisition gives Dicker Data access to NZD $70 million revenue in Australia, across a vendor base that has no overlap with existing Australian vendors.
The business employs a total of 119 staff, with 95 based in New Zealand and 24 in Australia.
Current CEO of Exeed, Justin Tye, will head up the combined entity in New Zealand in the newly created NZ Country Manager role.