ASX-listed cloud and cyber security provider AUCloud has announced it has entered into binding agreements to acquire Australian IT firms PCG Cyber, Venn IT and Arado.
Founded in 2019, Canberra-based PCG Cyber is a security consultancy specialising in Australian government security advice and operations.
The firm offers services including penetration testing, security architecture, threat monitoring and management, as well as governance, risk and compliance.
Founded in 2015, Brisbane-headquartered Venn IT is a managed services provider and professional consulting business with offices in Sydney and Adelaide.
The CRN Fast50 company is a data resilience and backup protection specialist servicing customers in the mining, financial services, education and distribution sectors.
Founded in Brisbane in 1992, Melbourne-based Arado offers cloud and managed services and has a strong presence in Queensland.
The firm’s customer base includes state and local government agencies as well as enterprises across the agriculture, industrial, health and resources sectors.
“The announcement of the acquisitions marked a significant step in our commitment to enhancing our comprehensive suite of cyber security and secure cloud solutions for our customers and positioned the company on a transformational growth trajectory,” AUCloud’s CEO and managing director Peter Maloney said.
“This expansion not only broadens AUCloud’s product, revenue and geographic spread but also integrates the unique technologies, skills and expertise of highly skilled providers into our operations.”
“The move is set to enhance AUCloud’s ability to deliver end-to-end cyber security, secure cloud solutions and consulting services to cater to the growing needs of Australian organisations and governments.”
“This expansion executes on the strategic review announced in June 2023, to build, partner and acquire new capabilities in cyber security and partner in the multi-cloud and public cloud markets to leverage the capital invested in the existing four sovereign cloud platforms.”
“The strategically aligned acquisitions refocus AUCloud as a capital-light, diversified cyber security and cloud solution offering with a national footprint.”
“The three acquisitions build on the sales momentum in the underlying cloud solutions business and create a platform for a scaled enterprise in a fragmented cloud and cyber security sector.”
“The company intends to continue M&A activity to scale up quickly through further waves of accretive acquisitions to absorb high-quality cyber businesses.”
Source: https://www.crn.com.au/news/aucloud-announces-30-million-acquisition-of-three-it-firms-606220
“An interesting youtube video that may be related to the article above”