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![Adisyn (ASX:AI1)](https://investingnews.com/media-library/adisyn-asx-ai1.png?id=51500344&width=1200&height=800)
Preliminary Final Report
Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company”) has released its Appendix 4E Preliminary Final Report.
Results for announcement to the market
Dividends
There were no dividends paid, recommended or declared during the current financial period.
Comments
The loss for the Group after providing for income tax amounted to $1,554,770 (30 June 2023: $1,740,563).
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Adisyn
Investor Insight
Adisyn’s innovative products and services leveraging a multi-billion-dollar Australian defence market and focusing on the underserved, high-potential SME market, provide a compelling investment case for technology investors.
Overview
Adisyn (ASX:AI1) is an ASX-listed company offering a comprehensive suite of products and services to SMEs operating in the fast-growing Australian defence industry supply chain. The company’s service offerings revolve around data protection, management and security. Adisyn has been focusing on cybersecurity and AI as the two key growth areas, confident these two verticals will offer significant growth opportunities as the data centre and cloud markets evolve.
The Australian Government plans to inject an extra $5.7 billion into its defence capability by 2027-28, with an additional $50.3 billion allocated for the following decade until 2033-34, surpassing previous projections. This funding surge will escalate the defence budget to approximately $100 billion by 2033-34, totaling $765 billion over the decade. Moreover, the government will earmark $15 billion to $20 billion specifically to bolster cyber domain capabilities during this period.
The surge in Australian defence spending is fueling demand for SMEs that operate in the defence supply chain. SMEs are ill-equipped to handle cybersecurity threats and need a trusted partner who specializes in cyber threat protection, regulatory compliance, and IT security infrastructure management. Adisyn is dedicated to becoming the go-to partner for SMEs aiming to enhance their sovereign data and security practices, particularly in sectors where national security concerns necessitate rigorous data protection measures.
To achieve this, Adisyn has laid out a four-phased strategic plan. The first phase, completed in 2023, focused on business restructuring, rebranding and bringing new management. The second phase, ongoing in 2024, focuses on the expansion of the advisory board, IP development, strategic technology partnerships, and business development. The company has commenced the expansion of the advisory board with the appointment of Harry Karelis in February 2024. Karelis will focus on identifying and securing strategic partnerships and assisting with investor relations and general business development activities.
In July 2024, Adisyn announced a collaboration agreement with 2D Generation, an international semi-conductor IP business. The two companies leverage artificial intelligence to advance the development of high-performance, energy-efficient semiconductor solutions crucial for AI and data centres.
The company anticipates the announcement of several key strategic partnerships that will significantly expand its current suite of cyber capabilities and distinctly set Adisyn apart in the marketplace.
During its third and final phase, scheduled from 2025 to 2026 and beyond, the company will aim for Australia wide expansion and acquisitions and strive to establish itself as a preferred service provider to SMEs operating in the defence supply chain.
Company Highlights
- Adisyn is an ASX-listed technology company focused on Australia's defence industry supply chain.
- Adisyn is aiming to become a preferred supplier to SMEs in the Australian defence industry supply chain, offering a range of solutions, particularly in the cybersecurity and AI domains.
- Australia’s defence budget is expanding, as led by the AUKUS security deal. Western Australia is leading the charge, with the state government aiming to double the value of its defence industry to $6 billion by 2030.
- SMEs involved in critical national security and defence projects do not have sufficient technological capabilities around AI and cybersecurity. Adisyn, with its vast experience in cyber threat protection and IT infrastructure management, is well-equipped to help these SMEs meet their technology and security obligations.
- Adisyn has launched a four-phased strategy to become the leading service provider in the defence supply chain market by 2026. Phase 1, which included business restructuring, rebranding, and new management, has been successfully completed. Phase 2, which is ongoing, will see the expansion of the advisory board, IP development, strategic technology partnerships, and business development.
- The company offers investors an attractive way to gain exposure to the fast-growing Australian defence industry supply chain.
Key Services
Cybersecurity and Advisory
Adisyn offers end-to-end cybersecurity solutions designed specifically to suit individual needs. The company is persistently advancing a range of new cybersecurity services tailored to help businesses navigate their responsibilities regarding handling personal data under the recently enacted Privacy Legislation Amendment (Enforcement and Other Measures) Act 2022. These services encompass threat intelligence, contextual security operations, and an AI-driven personally identifiable information de-identification tool.
The company plans to focus on expanding the services offered under the new cybersecurity division through new partnership agreements. Separately, Adisyn plans to begin developing new cybersecurity-focused AI-powered microservices.
IT Managed Services
Adisyn’s complete IT managed service offering covers all aspects of the IT environment. It ensures that its clients' IT infrastructure runs smoothly and promises minimal downtime for their IT systems.
Secure Private Cloud
The offering aims to secure clients’ data, ensuring business continuity and disaster recovery.
Management Team
Shane Wee – Non-Executive Chairman
Shane Wee has spent the last 30 years in the financial services industry. He was the founding director of Alto Capital until his retirement in June 2021. During his career, he held various corporate and advisory roles with several ASX entities, building an extensive network of contacts across Australia and Southeast Asia.
Blake Burton – Managing Director
Blake Burton has been the managing director of Adisyn since July 2022. With considerable expertise in the IT sector, he established his own web hosting company, which he later successfully sold in a trade deal to Australia's largest privately owned web host.
Justin Thomas – Non-executive Director
Justin Thomas brings over 20 years of experience in the IT industry. In 2007, he founded a real estate software business, which he sold to RP Data. In 2012, he built and sold a data centre to Amcom, now known as Vocus.
Paul Arch – Chief Operating Officer
Paul Arch brings extensive technology expertise, having been involved in numerous successful ventures in the Australian technology space. He is the founder of Datamate Backup Services and DC West Data Centre in Perth and played a pivotal role in their establishment.
Jesper Sentow – Chief Financial Officer
Jasper Sentow has over 25 years of experience serving as a chief financial officer and company secretary for public and private Australian and international companies spanning Europe, India and Southeast Asia. Sentow brings expertise in corporate financial management, strategic planning, corporate governance and commercial enhancement.
Harry Karelis – Chair of the Advisory Board
Harry Karelis boasts over 30 years of experience in capital markets and holds a master's degree in cybersecurity operations from the Australian defence Force Academy/UNSW. His areas of specialization encompass financial analysis, funds management, and private equity. Additionally, Harry possesses a robust background in technology startups, with a particular emphasis on cybersecurity, AI and defence sectors.
Jesse Gane – Chief Technology Officer
Jesse Gane is currently the director of space, cyber and federal government services at Downer Group. Gane is highly experienced in managing critical contracts with national responsibilities and fostering strong partnerships between organisations, government entities, and industry partners. He worked in the Australian Navy as a submariner with specialist communication and cybersecurity skills. His efforts in system architecture and product delivery have left an enduring mark on naval operations, earning accolades for his commitment to excellence and innovation. Gane has unique insights into the interactions between commerce and government, as well as the unique challenges facing small and growing companies seeking to bolster their internal systems.
Advisory Board Expansion
Highlights:
- Expansion of Adisyn’s Industry Advisory Board with three key appointments.
- Appointees bring valuable experience in cybersecurity, defence and national security.
- Brings strong insights into geopolitical trends and access to relevant networks.
- National security-clearances differentiate Adisyn from its peers.
- Continued tangible progress towards positioning Adisyn as the premier, sovereign provider of managed IT services to the defence industry supply chain.
recommendations to the Company’s management and board of directors for the activities of the Company which are relevant to the IAB members domain expertise. These appointments also provide the Company with personnel holding national security clearances, potentially opening new opportunities and further differentiating Adisyn from other managed IT services companies in the marketplace.
Mr Oscar Leslie
Oscar has an extensive background in the Australian National Security community and is the Co- Founder and Managing Director of Phase (www.phase.au) with whom Adisyn recently established as a strategic partnership (ASX: 6 May 2024).
Phase is a veteran-founded Australian research, development and commercialisation firm specialising in critical technology for the Defence and National Security community. Since its founding Oscar has led Phase in establishing strategic partnerships across academia, industry and government and supporting the delivery of novel solutions to end users. Oscar brings a capability- first approach to technology, layering a rich operational background in the national security
community with a passion for innovations that aim to change the way front-line personnel operate.
Mr Jesse Gane
Jesse is currently a Director of Space, Cyber, and Federal Government Services at Downer Group, managing critical contracts with national responsibilities and fostering strong partnerships between organisations, government entities, and industry partners.
Jesse has a background in the Australian Navy as a submariner with specialist communication and cybersecurity skills. He has demonstrated a commitment to delivering cutting-edge IT solutions in diverse operational landscapes. His efforts in system architecture and product delivery have left an enduring mark on naval operations, earning accolades for his commitment to excellence and innovation.
Jesse has unique insights into the interactions between commerce and government as well as the unique challenges facing small and growing companies seeking to bolster their internal systems.
Dr Craig Valli
Craig has over 35 years’ experience in the computing, information and communication technology industry. He conducts research and consults to industry and government on cybersecurity and digital forensics matters. Along with being the inaugural Director of the Edith Cowan University (ECU) Security Research Institute, he was also the research director and lead academic for the Australian Cyber Security Research Institute that resulted in the AU$140 million Cyber Security Co- operative Research Centre (CSCRC) that is now headquartered at ECU Joondalup Campus. He is a former member of the INTERPOL Cyber Crime Experts Group as well as the INTERPOL Digital Forensics Expert Group. Craig has over 150 peer reviewed academic publications in cybersecurity and digital forensics.
As consideration for their roles and to align the interests of each IAB member with that of shareholders, each appointee will be granted 1,000,000 options with an exercise price of $0.03 and a three year expiry date from the date of issue. These options will vest on the 12 month anniversary of each appointee being appointed to the IAB, and the issue of the options will be subject to shareholder approval at a future shareholder meeting of the Company.
The Company continues to remain focused on preserving it’s cash balance, and no ongoing cash consideration will be payable as consideration for each IAB members duties beyond specific project work (if any), which is subject to agreement between the IAB member and the Company on a case- by-case basis and will be paid at a per diem rate.
Adisyn’s Managing Director, Blake Burton, stated: “We are delighted to have attracted advisors of the calibre of Oscar, Jesse and Craig to our advisory board. We are laser focused on implementing new growth strategies for the Company to deliver an expansion in our sovereign capabilities to small and medium sized businesses interacting with Defence. These appointments sit alongside a series of strategic partnerships to position Adisyn as the go to provider of key services to this segment of the market We look forward to leveraging the combined networks and insights of the IAB to bolster the growth ambitions we have for Adisyn.”
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
June 2024 (Q4 FY24) Activities and Cashflow Report
Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company") is pleased to provide its quarterly report and Appendix 4C cash flow statement for the period ended 30 June 2024, as it continues to build on its unique technology offering and new strategic focus.
- Completion of strategic review with outcomes focused on divestment of non-core assets, streamline business with focus on AI and cybersecurity, and targeting business development opportunities in the defence industry supply chain.
- Divestment of VMware cloud assets to Zettagrid to generate up to $1.4m in cash, with $850k received to date.
- Expansion of Adisyn’s Industry Advisory Board with three key appointments, bringing valuable experience in cybersecurity, defence and national security.
- Strategic partnership with Canberra-based group, Phase, strengthening Adisyns defence industry capability.
Post Quarter Highlights
- As announced on 29 July 2024, the Company received firm commitments to raise ~$1.5m via a share placement of 46 million shares at $0.033c per share
For the quarter, the Company reported cash receipts of $1,538,000, following the disposal of its VMware Cloud Platform to Zettagrid Pty Ltd on 1 May 2024. Underlying total revenue for the quarter was $1,138,000, when excluding April 2024 revenue from the VMware Cloud business sold.
During the quarter, the Company focused its attention on new strategic partnerships, expanding its technological capability, and reviewing non-core assets for potential disposal to streamline the business moving forward and provide the Company with the balance sheet strength required to execute on its business development activities.
The Company remains focused on prioritising high growth, high margin sectors to further advance it’s AI enablement and cybersecurity capabilities, including it’s collaboration with leading semiconductor IP business, 2D Generation Ltd, which aims to generate transformational opportunities in the AI space, leveraging Adisyn’s expertise in data centre management, managed IT services, and cybersecurity, alongside 2D Generation’s industry-leading capabilities in developing next-generation AI semiconductor solutions (ASX: 15 July 2024).
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Firm Commitments Received for ~$1.5M Placement
Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company”) is pleased to announce that it has received binding firm commitments from new and existing sophisticated investors to raise $1.518 million through the issue of 46 million new fully paid ordinary shares in the Company (“New Shares”).
Highlights:
- Adisyn has received firm commitments to raise ~$1.5m via a share placement of 46 million shares at 3.3c per share.
- Supported by new and existing sophisticated and strategic investors.
- Funds raised will be used to accelerate the development of AI1's managed technology and cybersecurity businesses.
- In addition, funding will support new technology partnerships including the Collaboration Agreement with 2D Generation, a prominent semiconductor IP business, with the aim of generating next generation solutions.
AI1 Managing Director Blake Burton said: "We're delighted with the outcome of the capital raise which will allow AI1 to continue to build its existing underlying business of managed IT and cybersecurity applications for the defence industry supply chain. In addition, this inflow of capital will allow us to commit the required resources and focus on maximising technology partnerships, particularly our collaboration with 2D Generation as we look to identify opportunities that will enhance our current offering to our clients via transformational semiconductor and AI solutions."
Funds raised will be used towards the development and delivery of solutions for AI1's managed technology and cybersecurity businesses, along with general working capital. In addition, funding will support new technology partnerships including the Collaboration Agreement with 2D Generation (ASX: 15 July 2024), a prominent semiconductor IP business, with the aim of generating next generation solutions.
Allotment of the New Shares is expected to occur on or about 2 August and will rank pari passu with existing AI1 shares on issue.
Adisyn’s corporate adviser, Sandton Capital Advisory Pty Ltd (Sandton), acted as the Sole Lead Manager and Book Runner on the placement. A Lead Manager Mandate was signed with the Company which entitles Sandton to receive fees as follows; a Lead Manager fee of 2% of all funds raised under the placement, a capital raise fee of 4% of all funds raised under the placement, and the issue of 5 million fully paid ordinary shares in the Company to Sandton and/or its nominees, the issue of which is subject to shareholder approval.
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Adisyn Ltd (ASX: AI1) – Trading Halt
Description
The securities of Adisyn Ltd (‘AI1’) will be placed in trading halt at the request of AI1, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 29 July 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Adisyn Announces Strategic Collaboration with 2D Generation to Advance AI and Semiconductor Technology
Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company”) has entered into a binding collaboration agreement (“Collaboration Agreement”) with 2D Generation Ltd, a prominent international semiconductor IP business incorporated in Israel (“2D Generation”). This partnership aims to generate transformational opportunities in the AI space, leveraging Adisyn’s expertise in data centre management, managed IT services, and cybersecurity, alongside 2D Generation’s industry-leading capabilities in developing next-generation AI semiconductor solutions.
HIGHLIGHTS
- Collaboration with leading semiconductor IP business 2D Generation to generate transformational opportunities in the AI space, leveraging AI1's learnings in data centres and cybersecurity.
- 2D Generation is developing applications to enable the next generation of high-performance, energy-efficient semiconductor solutions for AI and datacentres
- 2D Generation is a founding partner in the EU's Connecting Chips Joint Undertaking
- Research and innovation partners include NVIDIA, IMEC, Valeo, Applied Materials, NXP and Unity.
Driving AI and Semiconductor Innovation
The collaboration is poised to advance the development of high-performance, energy-efficient semiconductor solutions crucial for AI and data centres. 2D Generation, renowned globally for its intellectual property innovations in semiconductors that enhance performance enabling generative AI and significant data centre efficiencies, is also a founding partner in the EU's Connecting Chips Joint Undertaking, reflecting its commitment to driving semiconductor advancements.
The Objectives of the Collaboration
The applications of the jointly developed technologies will align with AI1’s dual track strategy of AI enablement and advanced data centre and cyber security solutions.
The material terms of the binding Collaboration Agreement are as follows:
- Innovative AI Chips: The partnership will focus on creating intellectual property for electronic photonic power and systems on chips (SoC) and their integration into systems in package (SiP) modules.
- High-Performance Computing: Applications will target AI, data centres, high-performance computing, and other digital industries, including cybersecurity.
- Environmental Impact: Addressing the scalability limitations and massive energy demands of semiconductors to reduce societal and environmental costs.
- Within 60 days the parties will finalise a formal joint action plan regarding the implementation of the collaboration strategy going forward.
- The parties will mutually fund the costs of developing the joint action plan and the collaboration. Adisyn does not anticipate its contribution to these costs to be material at this stage. Further, Adisyn anticipates that the initial revenues from the Collaboration will be nominal at this stage, as is usually the case at the start of collaborations of this nature.
- The intellectual property developed from the action plan and the collaboration will be owned solely by 2D Generation with the right of assignment to Adisyn for commercialisation on terms yet to be formalised.
- The term of the Collaboration Agreement is ongoing until terminated in writing by either party.
Adisyn will keep shareholders updated in respect of the finalisation of the formal joint action plan and any further related agreements.
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Outcomes of a Strategic Review
Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company") is pleased to announce the following outcomes of the Strategic Review process (ASX: 28 February 2024).
Highlights:
- Strategic Review reveals four primary objectives
1. Continue to divest non-core assets
2. Streamline business with focus on AI and Cyber Security
3. Target business development activity towards SME market in the defence industry supply chain
4. Optimise the Company Structure
- Significant cost reduction initiatives to continue
- Board and Management changes
- Sandton Capital Advisory has been appointed to advise and assist the Board on the Strategic Review outcomes
Board and Management Update
Mr Justin Thomas has resigned from his executive role effective 9 July 2024. Mr Thomas will remain on the Board in a Non-Executive Director capacity and will receive an annual salary of $36,000 plus superannuation.
Mr Liam Gale has resigned from his position as Chief Information Officer effective 31 July 2024, with his current duties absorbed into the existing management team.
Mr Shane Wee said: “On behalf of the Board I would like to acknowledge both Justin and Liam’s significant contribution to the Company. The Board has greatly benefited from their experience and leadership. We extend our sincere thanks to Justin and Liam and wish them well in all their future endeavours.”
Mr Jesper Sentow was appointed interim Chief Financial Officer on 16 June 2023 and has since become an invaluable member of the team. Mr Sentow has agreed to become a permanent part- time Chief Financial Officer effective immediately. Mr Sentow is an experienced finance professional and member of CPA Australia holding an MBA from Macquarie University. With a proven history of building high-performance teams and engaging stakeholders, Mr Sentow brings expertise in commercial decision making, strategic planning, risk management, financial management, IT management and business acquisitions. Previous experience includes prominent finance roles at East Asiatic Company, HSE Mining and Cranecorp, spanning multiple industries.
The Board is further assessing the Board, Advisory Board and Management composition, with a focus on increasing AI experience, and will update the market in respect of any additional changes.
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Material Sale of VMware Cloud Platform
Adisyn Ltd (ASX: AI1) (“Adisyn” or the “Company") is pleased to announce it has signed a binding agreement with Zettagrid Pty Ltd (“Zettagrid”) to dispose of it’s VMware cloud platform for a total consideration of up to $1.4 million in cash (“Agreement”).
Highlights:
- Divestment of VMware cloud assets to Zettagrid to generate up to $1.4m in cash.
- $850k upfront payment, with the remaining $550k payable 9 months following settlement date and subject to revenue based earn out criteria.
- Adisyn and Zettagrid to commence strategic partnership for the sale of new cloud services using the Zettagrid cloud platform.
- Adisyn moves towards a capital lite model as it focuses on becoming the sovereign provider of choice for SMEs in the Australian defence industry supply chain.
Following a comprehensive internal review of the Company’s various operations and assets (ASX: 27 February 2024, 15 April 2024), the Company identified it's VMware cloud platform assets (“VMware Cloud Assets”) as non-core to it’s strategy of becoming the sovereign provider of choice for SMEs in the Australian defence industry supply chain (ASX: 15 April 2024).
Zettagrid is an Australian owned Technology Aggregator to the IT channel delivering Edge Cloud Hosting, Backup, Disaster Recovery, Software Licensing and Telecommunications in the Asia Pacific region. Zettagrid services more than 300 IT Channel Partners across seven availability zones and was recently named as a Broadcom Premier Partner for the VMware Cloud Service Provider (VCSP) program for Australia, New Zealand, Indonesia and Singapore.
Under the terms of the Agreement, Adisyn will transfer to Zettagrid all customer agreements and contracts (“VMware Customers”) relating to the VMware Cloud Assets which contributed ~$1.018m of revenue for the December 2023 half year period. The Company and Zettagrid have also agreed to novate across all supplier agreements and equipment leases which are required for the operation of the VMware Cloud Assets.
Subject to completion of the transaction, the Company will receive cash consideration of up to $1.4 million in cash (before costs and adjustments), which will be payable into 2 tranches. The first tranche of $850,000 will be payable on the settlement date (“Settlement Date”), which the parties anticipate to be today, 1 May 2024. The second tranche will be payable 9 months from the Settlement Date (“Completion Date”) and is subject to various adjustments determined by the annualised revenue of the VMware Customers at the Completion Date.
The consideration received by the Company will be used towards further implementing the Company’s growth strategy and towards its existing operations. Further details and the material terms of the Agreement are included in the Annexure to this announcement.
As the Company moves towards a capital lite model (ASX: 15 April 2024), Adisyn and Zettagrid have also agreed to enter into a strategic partnership for the sale of new cloud services. The Company will white-label Zettagrid’s Australian cloud services as part of it’s service offering, allowing Adisyn to focus on providing scalable, service-based solutions while substantially decreasing the Company’s requirement for any significant capital expenditure.
Adisyn’s Managing Director, Blake Burton stated: “I’m excited for Adisyn to be partnering with Zettagrid, who are one of the few premier providers of VMware sovereign cloud services in Australia. This sale and partnership allows us to focus our attention on building service-based solutions for defence-linked SME businesses, while still being able to utilise the cloud infrastructure scale which Zettagrid has built over a number of years. Zettagrid are a national cloud provider in Australia, allowing Adisyn to provide local cloud services in almost every state as part of our sovereign IT offering”.
Zettagrid’s CEO, Nathan Harman, stated: “I'm very pleased to be able to announce the acquisition of Adisyn’s VMware cloud infrastructure. Adisyn customers will be able to experience the benefits of the scale and cloud automation that Zettagrid provides, and the transaction provides us with a new cloud availability zone in Darwin. This will expand our sovereign Australian cloud availability zones to six, which encompasses Sydney, Melbourne, Brisbane, Perth, Adelaide and now Darwin. We’re excited to enter into a strategic partnership with Adisyn, which will allow them to focus on their Managed IT and Cybersecurity services whilst being able to leverage Zettagrid cloud infrastructure.”
The Company is continuing an ongoing internal review for the divestments of assets which are deemed to be non-core to the Company’s new strategic focus.
Click here for the full ASX Release
This article includes content from Adisyn, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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