Critical Infrastructure Technologies Ltd. (CSE: CTTT) (OTC: CITLF) (FRA: X9V) announced on May 13, 2026, that it has received finance approval for the debt component of the acquisition price to acquire 100% of the issued shares of a Western Australian precision engineering and manufacturing company with strong ties to the defence and mining sectors. The acquisition, expected to close on or before May 31, 2026, is a key step in CiTech's strategy to establish sovereign manufacturing capability in Australia and vertically integrate production of its Nexus platform and future defence technologies.
The purchase price is AUD $5,775,000 on completion, with deferred payments of AUD $962,500 each on the first and second anniversaries. The target company reported revenue of AUD $7.5 million for FY2025 and EBITDA of AUD $1.9 million, with projections of AUD $8.6 million revenue and AUD $2.2 million EBITDA for FY2026. Revenue and EBITDA are expected to double within the next two to three years.
This acquisition provides CiTech with immediate sovereign manufacturing capability in Western Australia, vertical integration of fabrication and engineering operations, faster prototyping and production of Nexus platforms, access to a highly skilled workforce and advanced fabrication infrastructure, and enhanced capability to support defence, mining, and critical infrastructure customers. The strengthened manufacturing capability will allow CiTech to accelerate production of its Nexus autonomous communications platforms, supporting increasing demand from international defence, mining, and infrastructure markets.
Brenton Scott, Director and Chief Executive Officer 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. Importantly, it strengthens sovereign Australian defence manufacturing capability and positions CiTech to participate in major allied supply chains.”
CiTech, listed on the CSE with operations in Perth, Western Australia, develops autonomous, high-capacity, rapidly deployable technology for the mining, defence, border security, and emergency services sectors. Its first product, the Nexus 16, provides critical mobile telecommunications using patented self-deploying platform technology. For more information, visit www.citech.com.au.
This news release contains forward-looking information within the meaning of applicable securities laws. The Company disclaims any obligation to revise or update such information except as required by law.
