Cirrus wins three-year deal with ENI

Chris McLaughlin (Cirrus Networks)

Publicly listed managed services provider Cirrus Networks has won a three-year managed services contract with global energy giant ENI. 

The Perth-based company will be responsible for implementation, migration and management of a range of services, including workplace, server operations, storage management, database management, network management and service desk.   

Cirrus will focus on helping ENI simplify its IT management and agility of its infrastructure. In addition, the project will work to reduce complexity, risk and IT costs; provide efficiency in implementing new digital capability and consolidate the number of applications.  

“Cirrus will deliver ENI a services model that enables the business to move forward more independently, utilising a new service integration and management framework,” the MSP told shareholders. 

According to Cirrus, the contract represents “a key strategic win” for Cirrus’ Western Australia business and “highlights the company’s strategic focus in the enterprise mid-market sector”.  

“We are thrilled to have been selected by ENI Australia as their partner of choice for this managed service,” Cirrus CEO and managing director Chris McLaughlin said. 

“We understand the priorities for ENI to ensure a seamless transition to an ongoing managed service while offering sustainable value through our innovative, agile and customer-focused approach. We look forward to working together and building a great partnership.” 

According to an update on the Australian Securities Exchange (AX), Cirrus will also be responsible for the transition and migration of ENI’s service management tool.  

The completion of transition and onboarding activities from the incumbent provider is expected to take place by Q3. 

The last financial year saw Cirrus win a number of new contracts, including with the ACT Government and Icon Water.

This followed the fending off of a hostile takeover attempt by Webcentral, which Cirrus described as being “distracting and costly” ahead of its financial results for 2022. 

In its results, Cirrus claimed a new leadership structure and services-led strategy was helping its earnings momentum, although revenue was down by 2 per cent to $104 million. 

Despite this, the company experienced a record second half revenue of $60 million – up 13.5 per cent on the previous period.  

 Adjusted earnings for FY22 before tax (EBITDA pre options) were $2.1 million, up 2 per cent on the prior year, while profit after tax was up 6.9 per cent, to $471,369.