FinTechFunding

Spirit Telecom: Announces three acquisitions and $23.2M cap raise

  • Spirit Telecom has announced a raft of good news, including the successful completion of an $18.2M placement and three new acquisitions
  • The IT companies Spirit has acquired include Altitude IT, Beachhead Group and Reliance Technology
  • All of the companies are based in Sydney and the Central NSW, allowing Spirit to expand its market
  • Meanwhile, the capital raise consists of the recently completed placement and a $5 million share placement plan
  • The additional equity will used to fund more acquisitions, expand the company’s marketing and grow its SpiritX platform
  • Shares in Spirit Telecom are trading up 8.11 per cent for 40 cents each
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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