More takeovers tipped for MBS

Joining forces with Argus Solutions Limited puts Moore Business Systems on the road to major acquisition trail.

After the announcement of Argus’ successful bid for MBS’ print management arm, the company is preparing for a massive overhaul that will see it rename, expand and prepare for further growth, namely through takeovers.

According to David Glavonijic, (pictured) CEO of MBS, the move was something he had considering for almost a year. “We’ve been thinking about it strategically for some time,” he said. “It’s about providing the right vehicle to drive the business forward.”

A number of publicly listed companies were considered, but it was Argus that Glavonijic found to be the most compelling. “Argus is a strong technology player with a lot of strength in biometric software and solution and is a listed vehicle,” he said. “It’s about putting Moore into a position where we are publicly listed and have access to investment funding. This is but the first step in our acquisitions to come.”

Size-wise, Argus is considerably smaller than MBS, valued at around $2.2 million. Glavonijic estimates that by joining forces, MBS has added at least $72 million to that figure. Neil Mitchell-Clark has also joined the company as its CFO.

When it comes to acquisitions, Glavonijic said that MBS would not be limited to printing companies. “What we are looking for are businesses that complement what we are trying to achieve strategically – having a print background is not essential.”

Glavonijic listed “an excellent customer base” and synergies with what MBS is trying to achieve. There are already several companies that MBS is considering, along with working on its plans to expand into New Zealand and Asia.

“It won’t be long before we have another announcement,” Glavonijic said.