Freightways acquires information management firms in Australia and New Zealand
Freightways Limited has tapped into the Australian and New Zealand information management market with the acquisition of two document shredding businesses. This was according to a report published by Scoop. Freightways has purchased Sydney-based Advance Security Destruction Services. This company offers secure data destruction services. The firm also operates in Melbourne, Brisbane, and Canberra, the report said. Freightways, a New Zealand courier firm, has also bought Hastings-based Docushred. The document destruction company serves clients across the Hawke's Bay and nearby regions, the report stated.
The two firms will be acquired effective December 1 this year. The combined purchase value for the two shredding companies is approximately USD13 million. The integration of the acquired firms is planned to occur by February 1, 2014, the report said.
Both of these acquisitions are expected to be immediately earnings per share (EPS) positive for Freightways. The acquisition deals are consistent with Freightways' strategy to open growth opportunities that complement its present capabilities, Scoop reported.