logo
bullish

Sovereign Cloud Holdings Ltd

Soveriegn Cloud Holdings (SOV) - As a Service in the Cloud

619 Views06 Apr 2021 08:40
Issuer-paid
SUMMARY

Sovereign Cloud Holdings (ASX:SOV), trading as AUCloud, is an Infrastructure as a Service (IaaS) provider focused on the Australian government, Australian Defence Force and critical national industry communities such as financial services, telecommunications and utilities. AUCloud was modelled on the success of UKCloud, a sovereign IaaS provider to the UK Government. UKCloud was co-founded by AUCloud’s CEO Phil Dawson, who left UKCloud in 2016 to explore whether a similar operation could be created in Australia. The company completed the build of its first cloud platform within Canberra Data Centre’s facilities, gaining IRAP accreditation and commencing beta testing with customers via direct and channel partnerships. The company’s IaaS service provides its customers with a highly secure, scalable, automated cloud solution, providing an effective hosting environment for critical and sensitive applications and solutions. SOV is able to do this because it has created two autonomous inter-connected Sovereignty zones in Sydney and Canberra. SOV is seeking to tap into the $13b a year that the Australian Government spends on ICT. The company listed on the ASX in December 2020 after raising $20m at $0.75/share to give a market capitalisation at listing of $74.7m. Proceeds from the issue were allocated to working capital, growth in employee head count, and growth capex.

Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
  • Unlock research summaries
  • Follow top, independent analysts
  • Receive personalised alerts
  • Access Analytics, Events and more

Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.

Upgrade later to our paid plans for full-access.

or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
chart-bar
Logo
Research as a Service (RaaS)
Insightful Financial Models and Research Analysis
AustraliaEquity Bottom-UpThematic (Sector/Industry)
Price Chart(Sign Up to Access)
analytics-chart
  • Loading...

Copyright © 2022 Smartkarma Innovations Pte Ltd. All Rights Reserved. v3.44.3

x