Spirit Tech bolsters Cyber Security through Strategic Acquisition of Technology

TLDR:

• Spirit Technology Solutions Ltd. is acquiring Forensic IT Solutions Pty Ltd for approximately $7.6 million plus shares to enhance its cyber security capabilities.
• To finance the acquisition and support general capital needs, Spirit has launched an equity raise of $20 million at a discounted offer price.

Spirit Technology Solutions Ltd. has announced a strategic acquisition to strengthen its cyber security division. The company is acquiring Forensic IT Solutions Pty Ltd for approximately $7.6 million plus shares in a move aimed at enhancing its cyber response capabilities and scaling its security division. To finance this acquisition and support its general capital needs, Spirit has launched a fully underwritten equity raise of $20 million at a discounted offer price. This move has received significant backing from major shareholder 263 Finance. The new capital injection is expected to drive Spirit’s growth strategy and solidify its position as a top-tier Australian cyber security entity.