Critical Infrastructure Technologies Ltd. (CSE: CTTT) (OTC: CITLF) (FRA: X9V) (“CiTech” or the “Company”) announced that it has received finance approval for the debt component of the acquisition price to purchase 100% of the shares of a Western Australian precision engineering and manufacturing company with ties to the defence and mining sector. The acquisition, expected to close on or before May 31, 2026, marks a strategic move to establish sovereign manufacturing capability in Australia and vertically integrate production of its Nexus platform.
The purchase price is AUD $5,775,000 on completion, with deferred payments of AUD $962,500 due on the first and second anniversaries. The target company reported revenue of AUD $7.5 million and EBITDA of AUD $1.9 million for FY2025, with projections of AUD $8.6 million revenue and AUD $2.2 million EBITDA for FY2026. Revenue and EBITDA are expected to double within two to three years.
CiTech CEO Brenton Scott emphasized the significance: “Being able to settle the acquisition represents a significant step in CiTech’s growth strategy. This acquisition provides immediate revenue and earnings while delivering the manufacturing capability required to scale production of our Nexus platforms and support increasing international demand.” He added that it strengthens sovereign Australian defence manufacturing capability and positions CiTech for participation in major allied supply chains.
The acquisition provides CiTech with immediate sovereign manufacturing capability in Western Australia, vertical integration of fabrication and engineering operations, faster prototyping and production of Nexus platforms, access to a skilled workforce and advanced infrastructure, and enhanced capacity to serve defence, mining, and critical infrastructure customers. CiTech develops autonomous, high-capacity mobile communications and security platforms, including the Nexus 16, which uses patented self-deploying platform technology for rapid deployment in sectors like mining, defence, and emergency services.
This acquisition comes as CiTech transitions from research and development to commercialization. The company’s website provides further information on its technologies. The forward-looking statements in this release are based on management’s assumptions and are subject to risks and uncertainties that could cause actual results to differ materially.
