BMIT Technologies, a leading data centre, cloud, managed services and cybersecurity firm listed on the Malta Stock Exchange (MSE), has announced that it has signed a share purchase agreement for the acquisition of a 51 per cent stake in 56Bit.

56Bit is a Maltese cloud infrastructure consultancy specialising in architecting, deploying, and managing cloud-native architectures, offering expertise in cloud solutions to support business needs. The company is recognised as an AWS Advanced Partner.

In a company update posted to the MSE, BMIT said that the conclusion of the transaction is dependent on a number of conditions precedent being satisfied and therefore may or may not conclude.

“Further announcements will be made as and when necessary.”

BMIT has been diversifying its strategy from a pure data centre outfit in recent years after acknowledging that the adoption of cloud services was eating into its profit margins.

In late 2023, it acquired the cellular tower network of telecoms provider GO – its majority shareholder – in a bid to position itself as “Malta’s InfraCo” (Infrastructure Company).

The deal, said Chairman Nikhil Patel (who also serves as CEO of GO), would “ensure stable revenues and margins for BMIT in the foreseeable future.”