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Virtual IT Group signs definitive agreement to secure investment from The Riverside Company to accelerate growth

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SYDNEY, June 21, 2024 /PRNewswire/ — Leading Australian IT Managed Service Provider, Virtual IT Group (VITG), has signed a definitive agreement to secure investment from global mid-market private equity firm The Riverside Company (Riverside) to bolster the platform and accelerate growth both organically and via M&A.

VITG provides comprehensive outsourced IT services including cloud, communications, business continuity, and cyber security to over 1,200 mostly mid- and increasingly large-size clients across Australia and globally.

Founded in 2015 by Christian Pacheco, it employs over 200 local staff and has a strong heritage in innovation and automation, partnering with the likes of Microsoft, Sophos, WatchGuard, and Kaseya.

VITG has expanded rapidly along Australia’s east coast including most recently into Victoria, targeting Australia’s 18,000+ middle market companies that contribute nearly one quarter of the country’s total income.

The $167 billion digital technology sector information is growing fast, expanding by 80 percent in just 5 years according to the Australian Trade & Investment Commission.

The spend on IT services in Australia is also currently estimated at $45 billion annually, growing at high-single digit rates as organisations invest heavily in critical areas such as security and cloud.

Riverside’s VITG investment alongside Christian Pacheco and the VITG team is another example of Riverside’s dedication to its Software, IT, and Business Services industry specialisation in Australia and New Zealand.

Through its global network, Riverside has invested in over 540 platforms and add-ons in these industries to date, including Energy Exemplar, a leading global provider of simulation software for energy markets and EventsAIR, a global events management software provider.

Christian Pacheco will continue as Managing Director of VITG, and will remain a significant shareholder, working with the VITG team to leverage Riverside’s support.

Christian Pacheco, Founder and Managing Director at VITG, said: “The VITG team is thrilled to be partnering with Riverside’s global team of specialists to take our business to the next level. We are pleased to find a like-minded partner who embraces our culture of collaboration and fostering lasting relationships, particularly in the M&A context where VITG has built a strong reputation in acquiring founder-led businesses. As a leading player in a consolidating IT services space, we are excited about what we can achieve together going forward – we are just getting started!”

Nicholas Pejnovic, Principal at Riverside, said: “Investing in high quality technology-oriented B2B businesses like VITG has been a priority for Riverside over many years. We bring access to a global network of experts to support the growth of these companies, which is one unique factor that Riverside offers its portfolio companies. We’re excited about Riverside’s investment in VITG and looking forward to partnering with such a high-calibre and ambitious management team.”

Kevin Xu, Principal at Riverside, said: “This partnership will allow VITG to increase focus on organic growth and continuously enhance the quality service clients are accustomed to, supported by VITG’s significant edge in automation. We will build out specialisations by industry and technical capability, and continue to execute on strategic add-ons.”

Riverside Principals Nicholas Pejnovic and Kevin Xu worked together alongside Vice President Jenny Guo and Analyst Dominique Ling on the deal for Riverside. 

Riverside was advised by Ad Astra Corporate Advisory and Herbert Smith Freehills. VITG was advised by Allier Capital and KPMG Law.

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Virtual IT Group is a leading Australian IT Managed Services provider focussed on simplifying complexity, driving economies of scale and securing IT environments for clients around the country.  Since its founding in 2015, VITG has grown to serve over 1,200 clients and over 25,000 workstations nationally across a variety of industries.

The Riverside Company is a global investment firm focused on being one of the leading private capital and credit options for business owners and portfolio companies at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm’s international private equity and flexible capital portfolios include more than 140 companies. Riverside Australia invests in Australian and New Zealand-based companies with last twelve months (LTM) earnings before interest, tax, depreciation, and amortisation (EBITDA) of up to AU$25 million.

Third Hemisphere is The Riverside Company’s PR firm in Australia

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SOURCE Riverside

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SSC SECURITY SERVICES CORP. ANNOUNCES SHAREHOLDER APPROVAL OF PREVIOUSLY ANNOUNCED PLAN OF ARRANGEMENT

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REGINA, SK, July 22, 2026 /CNW/ — SSC Security Services Corp. (TSXV: SECU) (US: SECUF) (“SSC” or the “Company”) today announced the voting results from its special meeting of holders (the “Shareholders”) of common shares (the “Shares”) of the Company held today (the “Meeting”) in connection with the previously announced plan of arrangement under the Business Corporations Act, 2021 (Saskatchewan) (the “Arrangement”), pursuant to which Universal Protection Service, LP (the “Parent”), through its wholly-owned subsidiary, 102236724 Saskatchewan Ltd. (the “Purchaser”, and together with the Parent, “Allied Universal”), will acquire all of the issued and outstanding Shares for $4.4075 per Share in cash, and pursuant to which certain officers and directors of the Company (the “Management Purchasers”) will purchase the Company’s legacy assets and cyber security business in a management buy-out transaction (the “MBO” and collectively with the Arrangement, the “Transaction”).

The Arrangement requires (i) the approval of 66 2/3% of the votes cast by Shareholders (including the Management Purchasers) present or represented by proxy and entitled to vote at the Meeting and (ii) the approval of a simple majority (more than 50%) of the votes cast by Shareholders present or represented by proxy and entitled to vote at the Meeting, other than the Management Purchasers and any other person required to be excluded from such vote for the purpose of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (the “Minority Shareholders”). At the Meeting, the resolution approving the Arrangement was approved by (i) 99.99% of the votes cast by Shareholders, and (ii) 99.97% of the votes cast by the Minority Shareholders.

Remaining Conditions to Completion of the Arrangement

Completion of the Transaction remains subject to the satisfaction or waiver of certain closing conditions that are set out in the arrangement agreement entered into between the Company and Allied Universal on May 26, 2026 (the “Arrangement Agreement”), including receipt of final court approval and approval of the TSX Venture Exchange. SSC intends to seek a final order (the “Final Order”) of the Court of King’s Bench for Saskatchewan to approve the Arrangement at a hearing to be held on July 27, 2026.

Subject to obtaining the Final Order and the satisfaction or waiver of the remaining conditions in the Arrangement Agreement, the Transaction is anticipated to close on July 31, 2026.

About SSC

SSC Security Services Corp. is Canada’s largest publicly traded security company. SSC acts as a public holding company investing in physical, electronic and cyber security businesses. The Company has one wholly-owned operating subsidiary: Logixx Security Inc., which provides physical, electronic and cyber security services to primarily commercial, industrial and public sector clients. The Company’s clients include federal and provincial governments, Crown corporations, and many high-profile corporate and public sector clients such as hospitals, airports, utility companies and police forces.

Forward Looking Statements

This release includes forward-looking statements concerning the future results, future performance, intentions, objectives, plans and expectations of the Company. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative and grammatical variations) or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risks, uncertainties affecting SSC, including risks regarding economic factors and the equity markets generally and many other factors beyond the control of SSC. Without limiting the generality of the foregoing, this release contains forward-looking statements pertaining to: the anticipated timing of the Transaction; receipt of required court and stock exchange approvals; satisfaction of closing conditions; and the anticipated effective date of the Arrangement. Risks and uncertainties that could cause actual results to differ materially include: failure to obtain court or stock exchange approvals; failure to satisfy closing conditions; failure of the parties to complete the Transaction for any reason, including termination of the Arrangement Agreement; legal challenges to the Arrangement; and risks and uncertainties discussed in SSC’s disclosure documents filed on SEDAR+ at www.sedarplus.ca. Forward-looking statements are not guarantees of future performance. These forward-looking statements should not be relied upon as representing the views of SSC as of any date after the date of this Release. Although SSC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this Release are made as of the date of this Release and SSC does not undertake to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE SSC Security Services Corp.

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GMI Cloud Announces Strategic Compute Collaboration With NVIDIA

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The collaboration advances GMI Cloud’s selective partnership strategy and supports its next phase of AI infrastructure growth

MOUNTAIN VIEW, Calif., July 22, 2026 /PRNewswire/ — GMI Cloud, a leading AI-native cloud provider delivering high-performance GPU infrastructure and inference services, today announced a strategic collaboration with NVIDIA as part of its selective approach to building long-term compute partnerships.

In support of this strategy, GMI Cloud has committed $500 million in CapEx to expand its compute capabilities and serve growing customer demand. The commitment represents a significant investment in the company’s next phase of infrastructure development.

GMI Cloud has also secured nine-figure contracts with a leading U.S. frontier AI enterprise, providing a strong commercial foundation for its continued growth.

GMI Cloud is pursuing a selective partnership model centered on a limited number of strategic relationships. The collaboration builds on GMI Cloud’s continued partnership with NVIDIA and brings together long-term compute planning with contracted customer demand.

GMI Cloud is among the earliest cloud providers to adopt this new compute partnership model, marking an important step in the company’s expansion and partnership strategy.

The $500 million CapEx commitment, nine-figure customer contracts, and selective partnership strategy establish the foundation for GMI Cloud’s next stage of growth. The company is set to continue this trajectory as it expands its compute capabilities and supports the evolving needs of frontier AI customers. For more information, visit www.gmicloud.ai.

About GMI Cloud
GMI Cloud is an AI-native cloud infrastructure company powering the next generation of AI applications. The company provides high-performance GPU infrastructure, Model-as-a-Service, dedicated endpoints, and AI workload deployment solutions for developers and enterprises building production AI systems. GMI Cloud helps teams move from experimentation to production with scalable compute, flexible infrastructure, and an ecosystem built for modern AI builders. For more information visit gmicloud.ai.

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SOURCE GMI Cloud

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ROKFORM Launches Rugged Case for Samsung Galaxy Z Fold8 and Z Fold8 Ultra

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Complete foldable protection with six-foot drop rating, MAGMAX ™ magnetic grip, and RokLock ® twist-lock mounting

IRVINE, Calif., July 22, 2026 /PRNewswire/ — ROKFORM today launched its Rugged Case for the Samsung Galaxy Z Fold8 and Galaxy Z Fold8 Ultra. Built with a slim, two-piece shell design — not just a backplate — the Rugged Case delivers six-foot drop protection, full hinge coverage, and secure RokLock® mounting across both foldable models.

“Users get the full ROKFORM experience with the Rugged Case, including incredible drop protection, RokLock® mounting, and MAGMAX™ magnetic strength, all in a design built specifically around the unique needs of a foldable device,” said Jeff Whitten, ROKFORM CEO.

The two-piece shell locks together to protect the outer screen, back, and spine of the Galaxy Z Fold8. In addition, the case is engineered to guard one of the most critical and vulnerable components on foldable phones — the hinge — from drops and impacts with full hinge coverage. The case exceeds military-grade drop protection standards from six feet, with a dual-layer build and reinforced corners designed to absorb real-world impact.

ROKFORM’s patented RokLock® twist-lock system delivers rock-solid, wobble-free connection to ROKFORM’s full ecosystem of car, bike, and motorcycle mounts. Combined with MAGMAX™ magnets, which deliver 3x more holding strength over standard MagSafe® magnets, users get an ultra-secure magnetic grip for mounting and use with other accessories.

The case is compatible with ROKFORM wireless chargers and compatible wireless charging accessories.

The Rugged Case for the Samsung Galaxy Z Fold8 and Z Fold8 Ultra retails for $79.99 and will be available August 5, 2026 at rokform.com.

About ROKFORM:
Founded in 2010, ROKFORM’s small but dedicated team has bootstrapped its way to becoming a leader in the design and manufacturing of innovative consumer electronics products. It is based in Irvine, California. With nearly 20 patents, ROKFORM remains a leader in the premium active lifestyle consumer electronics niche, with innovative designs to protect and enhance the world’s mobile devices. Products are designed and shipped directly from California headquarters, and customers can visit ROKFORM’s showroom to experience them. Learn more at rokform.com.

Contact:
Haley Lush
775-204-7975
419258@email4pr.com

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SOURCE ROKFORM

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