AUCloud acquire 3 companies, complete $30m capital raise

ASX-listed cyber security and cloud provider AUCloud has acquired three strategically aligned businesses, following its $30 million capital raising.

Lawyers Weekly • 18 March 2024 • Big Law

Sovereign Cloud Holdings, which trades as AUCloud on the ASX, has raised $30 million for the acquisition of three businesses: PCG Cyber, Venn IT and Arado.

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PCG Cyber is a cyber security consultancy; Venn IT is a managed services provider which focuses on customers in the mining, financial services, education and distribution sectors; and Arado offers cloud and managed services to various sectors including agriculture, health and resources, with a strong presence in Queensland.

The addition of the new businesses will provide AUCloud with a diversified cyber security and cloud solutions offering and a broader national footprint.

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Maddocks advised on the $30 million capital raise and three simultaneous acquisitions, led by corporate partner Catherine Merity.

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