Sovereign Cloud Holdings Ltd announced the strategic acquisition of three businesses to enhance product, revenue, and geographic diversification, aiming for profitability by FY25, alongside an equity raising of 30 million to fund these acquisitions and associated costs.
These moves are part of a broader strategy following a June 2023 review to expand in the cyber security and cloud markets, leveraging existing platforms for growth and capital efficiency, with the acquisitions expected to significantly contribute to the company's financial and operational metrics by FY25.
This announcement is a summary of the company approved ASX announcement on 18/3/2024