Excite Technology’s Subsidiary Surpasses Performance Milestones

Cipherpoint Ltd (AU:EXT) has released an update.

Excite Technology Services Limited’s subsidiary, Excite IT, has surpassed its performance milestone with an audited EBITDA of $1.141 million, exceeding its target by 27%. This success leads to the issuance of $500,000 worth of shares to the principal vendor, Bryan Saba, and the conversion of performance rights into shares, reflecting Excite IT’s significant contribution to the company’s growth. The achievement underscores the strength and strategic importance of Excite IT in delivering comprehensive cybersecurity and IT solutions.

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