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Spirit Technology Solutions Ltd. ( (AU:ITS) ) has shared an update.
Spirit Technology Solutions has completed the restructure of its Infotrust division with the sale of its Nexgen cloud and communications segment to Aussie Broadband for up to $50 million, equivalent to seven times FY25 EBITDA. The deal delivers $44.1 million upfront and a further $5.9 million contingent on performance over FY26 and FY27, significantly reducing net debt and freeing capital for growth.
The company plans to deploy proceeds and existing debt facilities to fund a pipeline of acquisitions aimed at expanding into new geographies and adding cyber service capabilities. Infotrust will consolidate into a single business unit under a refreshed brand focused solely on cyber and secure managed technology, reinforcing Spirit’s ambition to cement its position as the ASX’s largest sovereign pure-play operator in this space.
The most recent analyst rating on (AU:ITS) stock is a Sell with a A$0.41 price target. To see the full list of analyst forecasts on Spirit Technology Solutions Ltd. stock, see the AU:ITS Stock Forecast page.
More about Spirit Technology Solutions Ltd.
Spirit Technology Solutions Ltd., through its Infotrust business, operates in the cyber security and secure managed technology sector. Following a strategic refocus, the company is concentrating on cyber services and secure managed technology solutions, positioning itself as the largest sovereign pure-play cyber and secure managed technology organisation listed on the ASX.
Average Trading Volume: 33,225
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$83.68M
See more insights into ITS stock on TipRanks’ Stock Analysis page.