ASX-listed software business DC Two (ASX:DC2) has completed its acquisition of Attained Group and its expansion beyond data centres and infrastructure.
The company says its acquisition of Attained represents an initial, strategic steppingstone covering several technology layers, and is deemed critical to build an end-to-end market offering.
These include, among other; cyber security, managed IT services, cloud services, and network and voice solutions.
The company notes over the last 3 years Attained has demonstrated its ability to generate profit while achieving an average $3 million in unaudited revenue, and that through this transaction it expects to drive further growth by leveraging its IT infrastructure foundations built over this timeframe.
DC Two reports total purchase consideration is about $2 million in share considerations and deferred cash payments and, pursuant to the agreement, it will issue 17.824 million fully paid ordinary shares at a deemed issue price per share of $0.05 to the vendors of Attained.
Consideration shares expected to be issued are subject to voluntary escrow for up to 2 years from the date of issue.
DC Two is an ASX-listed company established in 2012 and offers a suite of vertically integrated services covering every part of the data centre and cloud technology stack. It offers a number of managed and integrated cloud services delivered from data centres in Perth and Darwin.
The company also develops software assets in order to support its internal operations and provide enhanced control and flexibility, through automation and self-service to its customers and technology partners.