A stock that has recently appeared on my radar is Atturra (ASX:ATA).
Atturra is a technology company that provides end-to-end technology services. They offer services such as advisory and consulting, business applications, cloud services, data and integration, and managed services. They serve over 600 clients across public and private sectors, including industries like defence, government, financial services, education, local government, manufacturing, and utilities. Atturra partners with leading technology companies to deliver scalable and expert solutions. The company is based in Sydney, Australia though they have a presence in all the major business centres as well as New Zealand and Singapore.
The immediate question that popped up into my mind is could this be another TechnologyOne (ASX:TNE) in the making, and while it is early days there are some promising signs. Coincidentally, Atturra is the largest independent provider of services supporting TechnologyOne applications. Along with Microsoft, these partnerships form a strong base from which to market their services.
While I say the stock came up on my radar recently, the reality is it has had a sound overall rank score since one was calculable following its listing at the end of 2021. The company is an amalgamation of a range of roll-ups and in 2021 changed its name from FTS Group to Atturra. In 2022 it acquired previously listed and distressed MOQ for some $22M after a brief bidding war with Brennan IT.
The bolting on of acquisitions continues to be a resonant theme for Atturra as it has been making a number of them in recent times to add onto their capability set.
Most recently the company had been championing the acquisition of three businesses to support a capital raising that they performed in 2022 (just one year after listing.) The Somerville Group was most recent with their provision of managed services to the corporate and education sectors. Prior was Hammond Street Developments, a specialist Microsoft partner. The third was intended to be a company by the name of NBIO, however that will now not proceed.
Stock Rank
The half year result recently published by the business was a good one and contributed to the strength of StockRank that the company has experienced since May 2022 when the score first rose above 80.…
