Critical Infrastructure Technologies Ltd. (CSE: CTTT) (OTC: CITLF) (FRA: X9V), a developer of autonomous mobile communications and security platforms, announced it has received finance approval to acquire 100% of the shares of a Western Australian precision engineering and manufacturing company with strong ties to the defence and mining sectors. The acquisition, expected to close on or before May 31, 2026, is a key step in CiTech's strategy to establish sovereign manufacturing capability in Australia and vertically integrate production of its Nexus platform and future defence technologies.
The purchase price is AUD $5,775,000 on completion, with two deferred payments of AUD $962,500 each on the first and second anniversaries of closing. The target company generated AUD $7.5 million in revenue in FY2025, with projections of AUD $8.6 million for FY2026, and EBITDA of AUD $1.9 million in FY2025, projected to reach AUD $2.2 million in FY2026. Revenue and EBITDA are expected to double within the next two to three years.
This 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 fabrication infrastructure, and enhanced capability to support defence, mining, and critical infrastructure customers. The strengthened manufacturing capability will accelerate production of Nexus autonomous communications platforms, meeting increasing demand from international markets.
Brenton Scott, Director and CEO of Critical Infrastructure Technologies, stated, "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, "Importantly, it strengthens sovereign Australian defence manufacturing capability and positions CiTech to participate in major allied supply chains."
CiTech is listed on the CSE with operations in Perth, Western Australia, and focuses on creating autonomous, high-capacity, rapidly deployable technology for mining, defence, border security, and emergency services. Its first product, the Nexus 16, aims to provide critical mobile telecommunications using patented self-deploying platform technology. For more information, visit www.citech.com.au.
This news release contains forward-looking information within the meaning of applicable securities laws, identified by words such as "believes," "may," "plans," "will," "anticipates," and "expects." Actual results may differ materially from those expressed or implied due to known and unknown risks, uncertainties, and other factors. The Company disclaims any obligation to revise or update forward-looking information, except as required by law.
