Spirit acquires Forensic IT as FY losses continue to shrink
Summary
Additionally, all Forensics IT staff will make the transition over to the new ownership, bringing Infrotrust’s total employee count to 124. This includes director Brendan McCreesh and director of cyber and incident response Jordan Hunt, who are set to join Spirit’s leadership team as part of the acquisition. The acquisition will see Spirit pay an aggregate consideration of $7.6 million and the issue of $1.6 million worth of ordinary shares in Spirit at an issue price of $0.05941 per share. The raising will see Spirit issue approximately 377 million fully paid ordinary shares, representing approximately 27.6 per cent of current Spirit shares on issue. After the funds for the acquisition have been raised, anything remaining will be used by the provider for general working capital purposes.