Atturra Unit to Acquire Data Center Service Provider

MT Newswires Live

Dec 02, 2024

Atturra (ASX:ATA), through its subsidiary Cirrus Networks, agreed to acquire Morgan Holdco, or Plan B, a provider of cloud, network connectivity, data center, and managed services, according to a Monday filing with the Australian bourse.

The upfront consideration for the sale is AU$19.4 million, the filing said. The deal includes an earn-out/post-completion consideration of up to AU$4.1 million contingent on Plan B achieving performance hurdles based on audited fiscal 2025 earnings before interest, taxes, depreciation, and amortization targets.

The transaction is anticipated to be completed Monday, according to the filing.

The technology company's shares were up almost 2% in recent Monday trade.

Price (AUD): $1.06, Change: $+0.02, Percent Change: +1.63%

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