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Maddocks advise listed cyber security and cloud provider AUCloud

• 20 March 2024 • 1 min read
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Maddocks has advised listed cyber security and cloud service specialist Sovereign Cloud Holdings Limited (ASX:SOV) on its $30 million capital raising for the acquisitions of three strategically aligned businesses.

The addition of the businesses will provide Sovereign Cloud Holding, which trades as AUCloud, with a diversified cyber security and cloud solutions offering with a broader national footprint. The acquisitions create a platform for a scaled enterprise in a fragmented cloud and cyber security sector.

AUCloud will acquire cyber security consultancy PCG Cyber; as well as managed services provider Venn IT which focuses on customers in the mining, financial services, education and distribution sectors. It will also add Arado which offers cloud and managed services to various sectors including agriculture, health and resources, with a strong presence in Queensland.

The Maddocks team advised on the three simultaneous acquisitions as well as the capital raising, and was led by Corporate Partner Catherine Merity, along with Capital Markets Partner Rosamond Sayer, with support from Senior Associates Tanja Maley and Scott Hunt, Associate Laura Cooke and Lawyer David Williamson.

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Contact Maddocks Head of Communications and Media

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