Harmonic New Media, a well-established Perth software, website development and hosting company, has been acquired by ReEnergise Digital.
Founded by Craig Harman almost 20 years ago, Harmonic is a digital studio that focuses on combining creative design with cutting-edge software. Boasting hundreds of clients, Harmonic provides custom software, website design and development using locally-based website hosting.
ReEnergise, a digital marketing company, was co-founded back in 2016 by two University of Western Australia (UWA) graduates, Marcus Safstrom and James Hill. The company focuses on supporting SME’s in establishing, expanding and diversifying their business offerings though digital technology solutions and online marketing strategies by implementing client-specific approaches.
The 5-year old company enjoys varied clientele ranging from sole traders and sports clubs to ASX-listed companies. Internationally, they have clients in Europe and the United States.
Marcus said following due diligence and fundraising, he is ‘thrilled’ with the acquisition and says it is apparent Harmonic and ReEnergise share the same beliefs, a factor he believes shows there are numerous synergies in their respective businesses.
The acquisition was funded through a combination of equity and debt financing, including support from strategic investors and existing shareholders. The Harmonic brand and key personnel – including key technical staff – will be retained, ensuring a smooth transition while bolstering ReEnergise’s technical capabilities.
Additionally, Harmonic’s website hosting clients will move to ReEnergise, boosting recurring revenue while delivering an economy of scale to their local hosting.
As part of the transaction, Craig himself will provide ongoing assistance for three months.
Marcus concluded by remarking that he believes ReEnergise will have even more opportunities to grow and flourish in 2021.