Critical Infrastructure Technologies Ltd. (CSE: CTTT) (OTC: CITLF) (FRA: X9V) announced it has received finance approval for the debt component to acquire 100% of the shares of a Western Australian precision engineering and manufacturing company with strong ties to the defence and mining sector. The acquisition, valued at AUD $5,775,000 on completion with deferred payments totaling AUD $1,925,000 over two years, is expected to close on or before May 31, 2026.
The target company generated AUD $7.5 million in revenue and AUD $1.9 million in EBITDA for fiscal year 2025, with projections of AUD $8.6 million and AUD $2.2 million respectively for FY2026. Revenue and EBITDA are expected to double within the next two to three years, according to the company. This acquisition immediately adds a profitable and well-established engineering and fabrication business to CiTech's operations, providing an earnings base while enabling vertical integration of production for its Nexus autonomous communications platforms.
Strategic benefits include immediate sovereign manufacturing capability in Western Australia, faster prototyping and deployment of Nexus platforms, and access to a highly skilled workforce and advanced fabrication infrastructure. CiTech CEO Brenton Scott 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 develops autonomous, high-capacity mobile communications and security platforms, targeting the mining, defence, border security, and emergency services sectors. Its self-deploying platform (SDP) supports LTE and other payloads such as surveillance and anti-drone systems. The company has completed research and development and is commercializing its first product, the Nexus 16. For more information, visit www.citech.com.au.
This acquisition marks a major step in CiTech's strategy to establish sovereign manufacturing capability in Australia and vertically integrate production. The company's forward-looking statements involve risks and uncertainties, and actual results may differ materially. The CSE and its Regulation Services Provider accept no responsibility for the adequacy or accuracy of this release.
