Maddocks advised listed cyber security and cloud service specialist Sovereign Cloud Holdings Limited (ASX: SOV) on its $30 million capital raising for the acquisition of three strategically aligned businesses.

Sovereign Cloud trades as AUCloud, an Australian-owned and operated Cyber Security Managed Security Service Provider and Sovereign Cloud Service specialist that supports Australian governments, and critical national industries.

The simultaneous transactions were for the acquisition of Canberra-based cyber security consultancy PCG Cyber, Queensland and South Australian-based managed services provider and consulting business Venn IT, and cloud and managed services business Arado.

Maddocks advised AUCloud on all three transactions as well as the capital raising for the acquisitions which have provided AUCloud with a diversified cyber security, cloud solutions and managed services offering and a broader footprint across Australia.

The acquisitions completed in May 2024.