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 for the debt component of the acquisition price to acquire 100% of the shares of a Western Australian precision engineering and manufacturing company with ties to the defence and mining sectors.
The acquisition, with a total purchase price of AUD $5,775,000 on completion plus deferred payments of AUD $962,500 each on the first and second anniversaries, is expected to close on or before May 31, 2026. The target company generated revenue of AUD $7.5 million in FY2025 and EBITDA of AUD $1.9 million, with projections for FY2026 of AUD $8.6 million in revenue and AUD $2.2 million in EBITDA. CiTech anticipates revenue and EBITDA will double within the next two to three years.
This strategic move provides CiTech with immediate sovereign manufacturing capability in Western Australia, vertical integration of fabrication and engineering operations, faster prototyping and production of its Nexus platforms, access to a skilled workforce and advanced infrastructure, and enhanced capacity to serve defence, mining, and critical infrastructure customers. The strengthened manufacturing capability is expected to accelerate production of Nexus autonomous communications platforms to meet growing international demand.
Brenton Scott, Director and CEO of CiTech, 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 that it strengthens sovereign Australian defence manufacturing capability and positions CiTech to participate in major allied supply chains.
CiTech, listed on the Canadian Securities Exchange with operations in Perth, focuses on autonomous, rapidly deployable technology for mining, defence, border security, and emergency services. Its Nexus 16 platform uses patented self-deploying technology to provide critical mobile telecommunications, supporting LTE and other payloads like surveillance and anti-drone systems. The company has completed R&D and is commercializing its first products.
For more information, visit www.citech.com.au.
