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Brennan eyes ASX listing post-MOQ acquisition

Brennan eyes ASX listing post-MOQ acquisition

Claims to now be Australia’s largest privately-owned systems integrator.

Dave Stevens (Brennan)

Dave Stevens (Brennan)

Credit: Brennan

Brennan is eyeing a potential public listing following the finalisation of its $23-million acquisition of MOQ Limited, 

The Federal Court of Australia approved the acquisition of Australian Securities Exchange-listed MOQ on 10 November, three months after Brennan won a bidding war against Atturra to acquire MOQ for $0.075 per share. 

Now, Brennan’s founder and managing director Dave Stevens claims the company is considering listing on the ASX in the next 12-to-18 months, among other capital raising options.  

Stevens, who rejoined Brennan in 2020 following a five-year hiatus, added that Brennan will pursue an aggressive organic growth strategy alongside more acquisitions. 

“Brennan’s clear differentiator is that we are local, have great people all over the country and are able to tailor local solutions to overcome issues unique to Australia,” Stevens said. 

“The MOQ acquisition and the recent Clade Solutions acquisition means we can provide even better services to our clients, with local experts who are highly skilled in data analytics, business transformation and consulting.” 

Following the completion of the MOQ acquisition the company claims it will be on track for revenues of $275 million in the next 12 months and will service more than 1,400 customers across Government, Enterprise, and Business sectors including Aurizon, HammondCare and BG&E. 

As part of its end-to-end systems integrator offering, Brennan will form a new division, Brennan Digital, which will include new capabilities from the MOQ and Clade acquisitions and will focus on digital transformation. 

Stevens said he expected Brennan would achieve double-digit growth in the next year, based on the Australian business community’s growing appetite for data analytics and digital transformation, plus the greater reliance on outsourced IT to help companies amid a national skills shortage.  

“Our expanded capabilities enable us to deliver both the day-to-day operational IT services and transformational IT solutions that are simple and easy to use,” he said. 

“This is all underpinned by the strong customer-centric service that Brennan has become recognised for."

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