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Friday, 13 November 2020 07:27

archTIS raises $8.5m to fund acquisition of US firm Nucleus Cyber

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Daniel Lai: "This capital will further strengthen the archTIS balance sheet and provides the company with the runway it requires to fully leverage the transformative acquisition of Nucleus Cyber.” Daniel Lai: "This capital will further strengthen the archTIS balance sheet and provides the company with the runway it requires to fully leverage the transformative acquisition of Nucleus Cyber.” Supplied

Canberra-based ASX-listed cyber security firm archTIS has received commitments for $8.4 million to fund its acquisition of US information protection business Nucleus Cyber.

The company said in a statement to the ASX on Thursday that the fund raising involved the issue of 25,454,545 million shares to be at $0.33 per share.

The acquisition of Nucleus Cyber was announced last month, with archTIS saying it would pay up to $9.5 million in shares for the Boston-based company.

The ASX announcement pointed out that Nucleus Cyber had recorded $819,000 annual recurring revenue in FY20 which meant 130% year-on-year growth from its high-margin, annual subscription-based software platform across government and defence, financial services, healthcare, pharmaceuticals, energy and manufacturing.

archTIS chief executive Daniel Lai said: “archTIS appreciates the continued support from shareholders. We were very pleased to see such strong demand from new investors and long-term holders, and are delighted to welcome additional quality institutional investors to the register.

"This capital will further strengthen the archTIS balance sheet and provides the company with the runway it requires to fully leverage the transformative acquisition of Nucleus Cyber.”

He added: "The acquisition comes at a time of both reinvigorated and increased spending on Australian defence and sovereign information security capabilities in the face of heightened geopolitical and economic uncertainty. [Australian Prime Minister] Scott Morrison sent an important message to the nation over the last few months by investing over $1.6 billion in bolstering Australia's cyber readiness and information warfare capabilities and $273 billion in defence capability uplift.

"The geopolitical shift in alliances and prevalent attitudes in the Indo-Pacific region has culminated in a climate where the need for defence and cyber security spending is at an all-time high. Coupled with the growing prevalence of cyber security threats worldwide, archTIS has moved to capitalise on a readily evolving global opportunity fuelled by a broader systemic shift towards working from home, as workforces more than ever need to bolster their cyber resilience and preparedness.

"The acquisition of Nucleus Cyber, which is a Microsoft, Dropbox and Nutanix partner, allows archTIS to establish our core presence in the US as we accelerate our growth path. This is a local success story of an Australian cyber company taking advantage of the geopolitical and economic tailwinds, expanding into US and taking advantage of an acute demand for premium sovereign defence and cyber security capabilities worldwide.'


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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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