Excite Technology Enters Deal To Acquire Premier Digital Forensics Group

Excite Technology Services Ltd (ASX:EXT) has signed a binding term sheet to acquire 100% of the issued capital of CBIT Pty Limited and related entities, known together as CBIT Digital Forensic Services (CDFS).

Notably, CDFS is Australia’s premier digital forensic services, tools, and industry-embedded training and certification provider for law enforcement, government, and corporate enterprises.

Once completed, the strategic acquisition will position Excite as a leading authority in incident response and digital forensics.

At the indices, Excite’s shares have been trading 28.57% higher in the past five days to A$0.0090.

Excite share price chart

Belgravia exercises funding commitment

To support the acquisition, Belgravia Group has exercised its option to invest A$1 million in Excite by way of convertible notes.

In addition, the Group have also indicated to exercise the balance of its option for a further $1 million in convertible note funding in the coming months.

With these funds, the company will advance the acquisition of CDFS

Leader in incident response

Excite CEO, Bryan Saba said: “We are thrilled to welcome CDFS into the Excite Group.

“This acquisition will enhance our service offerings and position the Company as a leader in incident response, with a capability that has uniquely been only a feature of Government Agencies.

“I look forward to working with Zoran and CDFS to better serve our clients and drive growth.

“We look forward to working with the talented team at CBIT to achieve our shared goals.”

Deepen relations with intelligence and law 

As part of the transaction, Excite will enter into a commercial, 10-year lease agreement for a state-of-the-art digital forensics lab and training facility with a related party of the vendors of CDFS.

Moving forward, the facility is due to be completed in July 2025, at which time the lease will commence.

Notably, the new facility has vested interest from the Australian government and forms part of CDFS’ growth strategy that will deepen the Group’s relationship with Australian Intelligence and Law Enforcement agencies.

 

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