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Completion Of Attained Acquisition
DC Two Limited (ASX: DC2) (“DC Two” or the “Company”), a vertically integrated revenue generating data centre, cloud, and software business, is pleased to announce the successful completion of its acquisition of Attained Group Pty Ltd (“Attained”) and its expansion beyond data centres and infrastructure.
This announcement follows on from previous ASX releases dated 30 December 2022, 27 February 2023 and 8 March 2023.
Attained is a profitable Australian leading managed IT and cloud services provider, deploying and managing technology solutions across a variety of enterprises to improve performance and efficiency. The acquisition will accelerate the Company’s strategic move into the broader cloud microservices IT sector, leveraging the IT infrastructure foundations built over the last three years.
The acquisition of Attained is deemed an initial, strategic steppingstone for the Company, covering several technology layers, deemed critical to build an end-to-end market offering. These include, among others:
- Cyber Security.
- Managed IT services.
- Cloud services.
- Network and Voice solutions.
During the last three years, Attained has demonstrated its ability to generate profit while achieving an average of ~$3 million in unaudited revenue. Via this transaction, the Company expects to drive further growth by leveraging its IT infrastructure foundations built over the last three years.
Total purchase consideration is approximately $2,000,000 in share consideration and deferred cash payments. Pursuant to the agreement, the Company will issue 17,824,504 fully paid ordinary shares at a deemed issue price per share of $0.05 to the vendors of Attained, pursuant to the terms included in the annexure to this announcement. The consideration shares to be issued are subject to voluntary escrow for up to 2 years from the date of issue.
This announcement has been approved for release by the Board of DC Two.
This article includes content from DC Two Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.