Empired inks $10m Victoria DET deal
Empired has secured a $10 million services contract with the Victoria Department of Education and Training to provide infrastructure technical services.
The five year contract, which includes a two year period with three one-year options, will see Empired provide platform support, solution design and specialist technical advice to the department.
The IT services provider says it is confident of further building on the services and value it provides to the Department of Education and Training over time.
Russell Baskerville, Empired managing director, says the Empired is ‘delighted’ to be selected as a key partner for the delivery of high quality ICT services for the Department of Education and Training.
“I would like to thank DET for their confidence in Empired and look forward to workingwith them over the coming years to assist them in achieving their business objectives.”
The company says it has been strategically investing in exposure to the education sector, along with health, finance and insurance sectors, as it diversifies its industry exposure.
The win continues a strong run for Empired. The company saw revenue up 94% in FY15, hitting $130 million, with EBITDA also up 94% to $11 million. NPAT jumped 134% to $5 million.
Attendees at the companies annual general meeting earlier this week heard how applications and consulting – including managed services, IoT and data insights, mobility, Microsoft CRM and ERP and digital transformation – are driving the company’s growth.
The company’s infrastructure services, including managed services, identity management and security, service integration and cloud transformation services, are also performing strongly.
Growth in application services revenue is driving margin improvements with gross application services margins typically around 36%. Overall FY15 gross margins were up from 31% in FY13 to 34%.
About 50% of FY15 revenue came from multi-year contracts and the company says it entered FY16 with record contracted revenue, largely annuity based. Recent strategic contract successes – with the company clocking up $65 million in the second half of FY15 – will drive revenue from multi-year contracts higher into FY16, Empired says.