oobe

333 Capital is pleased to have acted as exclusive financial advisor to oobe on their sale to Fujitsu. The transaction will see oobe, a Microsoft gold partner which specialises in cloud, modern workplace and cyber security, operate as “oobe, a Fujitsu company” a standalone rebranded Fujitsu Oceania company.

Background

Founded in 2007, oobe is a leading national end-user computing, apps, data, cloud and cyber security service provider, with a focus on Microsoft and Azure. Moving beyond traditional systems integration, it empowers teams to deliver real outcomes, faster, through automation and productisation. The company has a track record of growth through innovation and provides solutions across a wide range of clients including a significant Canberra based public sector and defence presence, in addition to critical infrastructure and commercial clients nationally.

oobe’s CEO Stuart Kilduff will remain with the business and continue to be responsible for the day-to-day leadership and operation of the business, along with joining the Fujitsu Australia executive leadership team. Under the acquisition all oobe staff will continue, with the transaction providing the ability to drive greater market impact at significant scale through taking oobe’s consulting, services and solutions to the next level in delivering on a wide range of public sector, defence and commercial customers’ digital transformations, including the ability to export oobe’s solutions globally.

Fujitsu was founded in 1935 and through innovating information and communication technologies has become the largest IT service provider in Japan and with 130,000 staff across 180 countries globally, is the 8th largest IT service provider in the world.

333 Capital was engaged by oobe to identify a partner who could provide the company with the platform and financial resources required to accelerate growth and expand the company’s solutions at greater scale. 

Our role

The engagement involved 333 Capital designing a tailored process to provide oobe with a choice of potential partners with competitive transaction terms and ultimately a result that exceeded expectations. As lead advisors throughout the transaction, 333 Capital’s role included:

• Designing the overall transaction strategy and preparing the business for sale, including developing detailed financial forecasts and documenting oobe’s strategy and growth opportunities.
• Identifying, targeting and engaging in discussions with potential growth partners.
• Facilitating an efficient due diligence process with multiple parties, including managing a detailed data room, external advisors and Q&A process.
• Negotiating a comprehensive suite of transaction and sale documents.

Result

333 Capital led the highly competitive sale process which culminated with Fujitsu acquiring oobe.

Stuart Kilduff, CEO of oobe, said: “333 Capital designed and managed a robust transaction process resulting in the ideal growth partner, with valuation and transaction terms above our expectations. The 333 Capital team provided first class service and support throughout, including working with our team in a streamlined manner which importantly allowed us to focus on business growth and outperformance.”

333 Capital is proud to have assisted oobe in its transaction with Fujitsu. We wish the oobe team every success under Fujitsu’s ownership.