FirstWave Cloud Technology Limited has announced its proposed acquisition of Opmantek Limited. The company has also launched an equity offering to raise up to $14m (Equity Raising) comprising:
- $7 million non-renounceable pro-rata entitlement offer (Entitlement Offer); and
- $7 million institutional placement (Placement).
FirstWave Executive Chairman, John Grant, said: “Rarely do you find two companies that fit together as perfectly as FirstWave and Opmantek. In a case of the whole being greater than the sum of its parts, both companies bring highly complementary business models, product offerings and geographic footprints. The combination significantly expands the growth potential of both companies by providing truly global reach, an expanded product portfolio and material operational, strategic and financial benefits. For FirstWave this is a transformative transaction, as we will gain access to Opmantek’s channel partners and sales force in the US, the world’s most lucrative market for cybersecurity, as well as Canada and Latin America, both large markets where we do not currently have a foothold. We will also benefit from the experience and leadership of Opmantek’s Executive Chairman, Danny Maher, who will become CEO and MD of FirstWave on completion.”
Opmantek’s Executive Chairman, Danny Maher, said: “The acquisition by FirstWave will enable the integration of Opmantek’s software onto FirstWave’s CyberCision Open Security Management Platform and create an end-to-end solution for network discovery, management and cybersecurity that is globally unique. I will be joining as FirstWave’s CEO and am excited by a belief that we have an incredible opportunity to be the automated network and security management platform of choice for MSPs globally.”