Singtel's NCS acquires Aussie IT company The Dialog Group for A$325m

NCS, Singtel's Z74 technology services arm, announced that it would acquire Australian IT services company The Dialog Group for A$325 million (S$328 million) as it looks to further its plans to be a pan-Asian business-to-business (B2B) digital services provider.

The acquisition is expected to be completed in 3 months, subject to the approval of regulators and other third parties. A$290 million of the consideration will be paid once the acquisition is completed, while an additional A$35 million will be paid out in tranches within 2 years after.

In a bourse filing, Singtel noted that Dialog's net asset value as at June 30, 2021 was A$43 million. According to a Citi analyst report released on Monday, The company made A$176 million in revenues and A$12 million in profits in its last fiscal year ended June 2021.