Atturra is looking to raise $50 million to fund future acquisitions and balance sheet optimisation, after announcing the completion of its acquisition of Cirrus share capital yesterday.
Atturra's acquisition strategy currently targets investments in industries with high entry barriers or those underserved by current market leaders, providing bespoke technology and advisory solutions, according to a captial raise presentation.
The company is also targeting investments in high-growth technologies and strategic partnerships.
It has expanded its managed services capabilities with the acquisitions of Somerville, SaberVox and Cirrus Networks, the presentation notes.
The Cirrus acquisition is a “significant milestone for Atturra and will accelerate our stated growth strategy and particularly our managed services offering and government client exposure,” said Atturra CEO Stephen Kowal.
Atturra anticipates the Cirrus Acquisition will increase its revenue for FY24 to more than $235 million and underlying EBITDA to be in the range of $25-$27.5 million, an increase from previous guidance of $22.5 million.
Paul Everingham, Danel Rohr and Adam Waterworth have resigned from the Cirrus Board and Michelle Kennedy and Kelly Moore have resigned as Joint Company Secretaries of Cirrus.
Stephen Kowal and Shan Kanji have been appointed as Directors of the Company, and Kunal Shah has been appointed as the Company’s Company Secretary.
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