March 30, 2011

Australian IT in box seat for Cambodia

[iTWire]

Chief executive officer Vaughan Stibbard said the World Bank funded project was just waiting on final sign off, but that the company was expecting to be appointed as prime contractor for the whole of government project. The Australian company has been pitted against Spanish firm Indra Sistemas, and a decision was originally expected in February, but Mr Stibbard indicated to iTWire this week that all that was missing was a final sign off of the paperwork from the World Bank.

The company currently has a team of three people operating out of its Singapore office to support clients in Asia, but is likely to grow that if the Cambodian project gets the green light.

It also has significant growth ambitions in Australia, and tomorrow completes the acquisition of Melbourne based financial systems specialist Platinum Insight which will contribute additional revenues of $3.2million to the Tripoint coffers. That should take Tripoint back over the $30 million revenue mark, which it has been nudging since the GFC forced it to trim its sails from a 150 strong operation back to 100 people.

From tomorrow the company will have a headcount of 115 according to Mr Stibbard. The newly merged business unit will be renamed as Tripoint Financial Services.

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