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Ten of Loftus IT’s thirteen staff, including all senior tech, sales and administrative staff, as well as founder Ken Sullivan, will be retained under the arrangement as will the Loftus IT brand.
TekNet was established in the UK in 1998 and is part of the Flywheel IT Services group, which has global operations in the UK, Europe and the USA. Loftus IT is celebrating its 25th year and founder Ken Sullivan said that the acquisition of Loftus IT by TekNet SA will strengthen its service offering in the local market and beyond.
“TekNet have global experience and will add some specialist services such as advanced Cyber Security and Data Protection to our local offering,”
explained Mr Sullivan.
Loftus IT was established in 1994 with its services covering the entire lifecycle of IT systems for business including systems design and architecture, procurement, service-desk, security and project management. Loftus clients include leading local brands and Australian brands such as Benson Radiology, Beerenberg, Robern Menz, Shaw+Smith and Weber Australia, to name a few.
TekNet Managing Director John Stronnar said that the acquisition of Loftus IT was a win-win for both parties and an ideal way for his business to continue to expand it’s foothold in the South Australian market. It was a strategic business rescue that will enable the sustainable growth of the iconic South Australian Loftus IT brand.
“Whilst I will be involved in the business for the foreseeable future, I am approaching retirement age and am delighted that this agreement will enable the Loftus IT brand to continue to grow locally, nationally and Internationally” added Mr. Sullivan.
John Stronnar of TekNet addresses Ken Sullivan of Loftus IT – proud to form an alliance and work together into the future.
“As a recent arrival in South Australia I am delighted to be investing in a local SA business with a solid reputation and capacity to grow,”
“The South Australian economy is evolving and new industries such as space, defence, creative arts and biomedicine are flourishing and with that comes many opportunities, especially in security, cloud and managed services.”
“Our global reach and experience will become increasingly advantageous to us locally as AI, automation and machine-learning continue to transform business,”
Mr John Stronnar.
Business Turnaround Practitioner Eddie Griffith was instrumental to the successful acquisition and retaining business value, employees and customers. A 25-year celebratory event was held in November in recognition of the Loftus IT brand and to pay tribute to the staff, clients and customers.
Business Turnaround Advisor Eddie Griffith introduces Henry Olonga
Henry Olonga belts out a powerful tune to celebrate the strategic business rescue acquisition