Excite Technology Secures AU$1 Million to Boost Cybersecurity and Forensics Expansion

Excite Technology Services Limited (ASX: EXT) has secured AU$1 million in funding by issuing ordinary shares to sophisticated investors through a placement. The funds will provide working capital to enhance the Group's sales and go-to-market efforts, particularly in digital forensics and incident response. The placement involves issuing 100 million shares at AU$0.01 per share, expected to be issued by next week.

Following its acquisition of CDFS, excite plans to integrate CDFS's specialized services into its customer base while exploring new opportunities with CDFS's partners. Excite CEO Bryan Saba highlighted the growth potential from the acquisition, emphasizing its importance in expanding the company's service offerings. The continued support from shareholders was also acknowledged. Excite, operating as Excite Cyber, offers managed cybersecurity, cloud, and IT services through its Security Operations Centre and skilled operations teams, enabling quick responses to cybersecurity threats.

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