InvestSMART

Aussie Broadband Limited (ASX:ABB)

ALERT: Price-sensitive ASX Announcement for ABB
Current share price for ABB : $4.140 -1.09 (-20.84%)+
Announcement
Release
23 Feb 2026 8:57AM
Price at Release
$5.230
Full Release
download
Summary
Infotrust Ltd has announced a strategic divestment of its Cloud & Communications segment, comprising 100% of Nexgen Investment Group Pty Ltd, to Aussie Broadband Limited for a total consideration of $50 million. This move aligns with Infotrust's vision to focus on becoming a leading cyber security technology provider in Australia. The transaction includes an upfront cash consideration of $44.1 million and up to $5.9 million contingent on performance metrics. Following the completion, Infotrust will concentrate on cyber security and secure managed technology services. The divestment facilitates Infotrust's transition towards a high-margin, cyber-first service offering, supports their acquisition pipeline, and enhances their balance sheet. As part of this shift, Infotrust will operate across two service lines: cyber security and secure managed technology, aiming to deliver integrated and resilient technology solutions.
Key Points
  • Infotrust divests Cloud & Communications segment to Aussie Broadband Limited.
  • Transaction valued at $50 million, with $44.1 million upfront and up to $5.9 million contingent on performance.
  • Divestment aligns with Infotrust's strategy to focus on cyber security.
  • Infotrust to provide transitional services for 12 months to ensure continuity.
  • Proceeds to lower debt and fund growth opportunities in cyber security.
  • Infotrust shifts focus to cyber security and managed technology services post-divestment.
  • Withdrawal of FY26 earnings guidance due to change in earnings profile post-divestment.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.