Atturra acquires Kitepipe in USD $3.15 million deal

Atturra has announced the acquisition of Project Delivery Services LLC (Kitepipe), an American Boomi partner known for its platform suite expertise.

The acquisition agreement, executed by Atturra's subsidiary, Atturra North America, positions the company as a significant player in the market for Boomi services, aided by strong teams in North America and support from a global offshore team in the Philippines. Kitepipe's integration is set to bolster Atturra's global operations, enhancing data-driven transformations across sectors.

The terms of the acquisition involve an upfront cash payment of USD $3.15 million (AUD $4.98 million), with an additional earn-out conditional upon performance milestones for 2025 and 2026, reaching up to USD $3.18 million (AUD $5.02 million). The total purchase price is calculated based on a 7.5x multiple of forecast EBITDA. Integration costs are expected to be USD $350,000.

Kitepipe, a Boomi Platinum Partner, boasts over a decade of experience in Boomi integration services. It specialises in integration builds, Master Data Hub solutions, and managed services, offering scalable, customised integrations for various industries, including biotech, finance, and healthcare. This aligns well with Atturra's existing data and integration practice.

Stephen Kowal, Chief Executive Officer of Atturra, commented, "This Acquisition will be an exciting evolution of Atturra's data and integration capabilities, providing a capability footprint in North America. Importantly for Atturra and Kitepipe the teams have known each other for well over a year and already have a great working relationship. This acquisition will further solidify the global relationship between Atturra and Boomi. Kitepipe's deep Boomi expertise enhances Atturra's ability to deliver seamless, end-to-end integration solutions to clients across the ASIAPAC and North America regions."

Kitepipe's Chief Executive Officer, Larry Cone, stated, "This is an exciting move for the Kitepipe team and our customers, as this combination with Atturra brings needed scale and fills key gaps in our Boomi-focused consulting and managed service offerings. Culturally, Atturra is a great fit for us – they understand our niche and have the same customer-first outlook to business which has been so successful for Kitepipe."

He also added, "Together, we will be the global leader in services and expertise for the growing Boomi customer community."