Australian-owned cloud service provider Bulletproof Networks on Monday announced it would soon list on the Australian Securities Exchange (ASX) in a bid to raise $1.6 million. Bulletproof will undertake a reverse listing with existing ASX-listed entity Spencer Resources Limited (ASX:SPA), which will acquire 100 per cent of Bulletproof. If Spencer’s shareholders approve the deal, existing Bulletproof shareholders will receive a majority ownership in Spencer. Stephe Wilks, the current chairman at telecommunications infrastructure provider Eftel Limited – which was recently sold to M2 Telecommunications Group Limited – will join Bulletproof when it lists following a shareholder vote in December. Wilks was also founder and managing director of the first Australian DSL wholesaler XYZed, consulting director at NM Rothschild and Sons and CEO of Nextgen Networks. Bulletproof CEO Anthony Woodward, said the company had experienced an annual growth rate of more than 40 per cent over the last five years and it strong cash flows had enabled it to be largely self-funded. He said the capital raising from the listing – when combined with cash reserves – would accelerate the company’s expansion plans and strengthen its balance sheet. Bulletproof claimed that over the past seven years, it has been consistently first to market with public and private cloud services. The company said it was the organisation in Australia to launch a VMware public cloud in 2006 and a managed Amazon Web Services offering in 2012. Related content brandpost Sponsored by Freshworks When your AI chatbots mess up AI ‘hallucinations’ present significant business risks, but new types of guardrails can keep them from doing serious damage By Paul Gillin Dec 08, 2023 4 mins Generative AI brandpost Sponsored by Dell New research: How IT leaders drive business benefits by accelerating device refresh strategies Security leaders have particular concerns that older devices are more vulnerable to increasingly sophisticated cyber attacks. By Laura McEwan Dec 08, 2023 3 mins Infrastructure Management case study Toyota transforms IT service desk with gen AI To help promote insourcing and quality control, Toyota Motor North America is leveraging generative AI for HR and IT service desk requests. By Thor Olavsrud Dec 08, 2023 7 mins Employee Experience Generative AI ICT Partners feature CSM certification: Costs, requirements, and all you need to know The Certified ScrumMaster (CSM) certification sets the standard for establishing Scrum theory, developing practical applications and rules, and leading teams and stakeholders through the development process. By Moira Alexander Dec 08, 2023 8 mins Certifications IT Skills Project Management Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe