Datacom becomes first Kiwi IT firm to hit $1 billion in sales
Privately owned information technology services firm Datacom has become the first Kiwi IT firm to grow its sales to more than $1 billion.
The company's growth is positive for future Kiwi pensioners. The NZ Superannuation Fund bought NZ Post's 35 per stake in the firm for $142m in 2012.
Datacom hit the billion-dollar milestone after growing revenues 13 per cent in the year to the end of March, to $1.06b.
It also saw a double-digit profit rise – up 11 per cent to $27m.
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Datacom took on nearly 500 staff during the year, growing its workforce to 4661.
About half its business is in New Zealand. It has sizeable operations in Australia and also does business in Asia, Britain and the United States.
Chief executive Jonathan Ladd said Datacom's growth illustrated "customers like what we are offering".
The constraint on the firm was finding the people it needed, he said.
"Across the industry there is a lack of people in areas such as cybersecurity where everybody is feeling the pinch."
But Datacom's record of stable growth had made it an "employer of choice", he said.
Although it owns a network of data centres in New Zealand and Australia, the growth of United States cloud hosting giant Amazon Web Services was a strong opportunity for Datacom, he said.
"Our motto is the right cloud for the right workload."