Acquisition Finalized for Thomas Cybercorp
DC Two Expands Cyber Security Services with Acquisition of Thomas Cyber
In a strategic move to bolster its cyber security capabilities, DC Two Limited has announced the acquisition of Thomas Cyber. The new cyber division, to be led by Thomas Cyber's management, aims to leverage AI-powered microservices and the existing infrastructure of DC Two and Attained.
The acquisition, performance-based in nature, has a $0.025 floor share price. Thomas Cyber's management, including Dr. Thomas Jreige, the current CEO and co-founder, will be at the helm of the new division.
The new division will encompass Thomas Cyber and the existing cyber security capabilities within DC Two and Attained. The revenue from new cyber security services provided to the Company's existing clients, as well as to new clients and Thomas Cyber's existing clients, will be included.
As the cybersecurity landscape continues to evolve, with ransomware attacks on the rise and the need for robust cybersecurity information sharing frameworks becoming increasingly important, DC Two's new cyber division is poised to deliver innovative and agile solutions. The division aims to protect critical infrastructure and customer data through advanced defensive technologies, expand market presence by tapping into government and enterprise clients focusing on IT modernization and cyber resilience, and potentially integrate threat intelligence sharing and incident response capabilities aligned with national security priorities.
Thomas Cyber, prior to the acquisition, delivered approximately $360,000 in unaudited revenue for FY2023. To realize all performance rights linked to revenue targets, the business needs to achieve at least $1,000,000 in audited revenue for FY2024 and at least $3,000,000 in audited revenue for FY2025.
DC Two Limited has also stated that it will continue to assess value accretive M&A transactions to acquire technology and talented individuals. However, revenue from future cyber security business acquisitions will not be included, and the new cyber division will not include any existing recurring cyber security revenue from within the Company.
Kristen Raysen, the co-founder and current Business Relationship Manager (BRM) of Thomas Cyber, will transition to the role of BRM - Cyber Security at DC Two.
This M&A transaction is intended to drive further organic growth for DC Two. The new cyber division is expected to play a significant role in DC Two's growth strategy moving forward.
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