DC Two to acquire Thomas Cyber

ASX-listed data centre operator and managed cloud provider DC Two is set to acquire information security and intelligence provider Thomas Cyber.

Both DC Two and Thomas Cyber are headquartered in Perth, Western Australia.

The consideration for the acquisition is completely performance-based with a $0.025 floor share price for multiple trances.

Founded in 2017, Thomas Cyber operates an established cyber security business.

Its clients include ASX-listed companies, government organisations, and private entities across Australia and internationally.

The acquisition allows DC Two to expand beyond data centres and infrastructure and create a unique technology offering into the broader cloud microservices sector.

DC Two said the acquisition is important for its clients, enabling it to deliver enhanced cyber security services, comprehensive end-to-end market solutions, and access to innovative technologies to protect their digital assets.

According to DC Two, the proposed acquisition is aligned with its strategy to acquire technology and attract talented individuals, enhance capabilities, and market position to drive continued growth.

Following completion of the acquisition, DC Two will create a new division which Thomas Cyber’s management will lead to assist in developing its security capabilities driven by microservices powered by artificial intelligence.

Thomas Cyber delivered approximately $360,000 in unaudited revenue for FY2023, which DC Two said provides a strong foundation moving into the next financial year.

DC Two first debuted on the Australian Securities Exchange in November 2020, following a $5.5 million initial public offering.

In June 2021, DC Two attained the International Organisation for Standardisation (ISO) 27001:2013 Certification for its software, cloud platform and data centres.

During May 2022, DC Two partnered with Perth managed services provider Attained Group to bolster its professional IT services offering.

DC Two provides managed cloud services for 300 businesses across Western Australia and the Northern Territory through its more than 40 resellers.

The services are delivered from its own physical data centres in Perth and Darwin.