On January 16, 2024, 5G Networks Limited (ASX: 5GN) completed the acquisition of Security Shift Pty Ltd and associated entities for AU$4 million, equivalent to a 3 times EBITDA multiple or 1 times revenue. The transaction, funded from existing cash reserves and AU$1.24 million in 5GN shares, involves an upfront payment of AU$1.66 million and two deferred payments of AU$550,000 over the next two years. Security Shift specializes in cybersecurity consultancy, managed services, and IT engineering, focusing on public cloud, data center, critical infrastructure, and Australian Government ISM compliance.
CEO Chris Wright will continue in his role, joining the 5GN executive team. This acquisition positions 5GN to expand services, particularly in security, catering to their large corporate client base. Managing Director Joe Demase emphasizes the growth in security importance and anticipates unlocking opportunities with Security Shift on board. 5GN, an Australian digital services company, currently serves over 2,500 corporate clients, offering extensive digital services across cloud, data networks, data centers, managed IT services, and digital marketing.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
