Dicker Data Limited entered into a conditional business sale agreement to acquire Security and Information Technology distribution division of Hills Limited from Hills Limited for AUD 20 million.

Dicker Data Limited (ASX:DDR) entered into a conditional business sale agreement to acquire Security and Information Technology distribution division of Hills Limited from Hills Limited (ASX:HIL) for AUD 20 million on February 21, 2022. The SIT division generated AUD 123.2m revenue in FY21. The deal is subject to approval from Commonwealth Bank of Australia and Hills Limited shareholders and board.

As of February 21, 2022 Hills Limited board approved the deal. The transaction is expected to close in April 2022. The transaction is expected to complete on May 2, 2022.

Hills intends to apply the proceeds from the divestment to reduce debt and restructuring of corporate operations. Hill limited shareholders approved the deal. Hills SIT division will now be recognized as Dicker Data Access and Surveillance, or DAS.