SolNet buys across Tasman

By ADAM GIFFORD

Sun Microsystems' New Zealand distributor, SolNet, has completed the acquisition of Melbourne-based software company Lifeboat.

Buying the 22-staff software company is a key part of SolNet's plan for expansion over the Tasman.

Managing director Murray McNae said SolNet had continued to hire, and now had 19 staff in Sydney and Melbourne, concentrating on selling and implementing the iPlanet e-commerce solutions developed by the Sun-Netscape alliance.

"Before the deal was signed we contracted some of our SolNet Australia staff into Lifeboat projects," Mr McNae said. "The Lifeboat business has been growing well.

"They've been developing their Java software business, which is pleasing for us to see, and there will be cross-training opportunities for them."

He said the firm would continue to trade under the Lifeboat name for now, "but we want to build a strong SolNet image in Australia."

Lifeboat has expertise in project management, strategic IT consultancy, system design, development, testing and delivery, and application support and training. It works in Unix, Java and Oracle-based environments, and in e-commerce, telecommunications, networking and the internet.

Among its customers is Australia Post, with which it has a significant database administration outsourcing contract.

Mr McNae said the deal between the two private companies involved a mix of cash and shares. SolNet was open to more acquisitions "but we're not actively pursuing any."