Malta’s leading digital infrastructure, cloud, cyber resilience and managed IT services provider, BMIT Technologies plc (MSE: BMIT), today announced it has entered into an agreement to acquire a majority stake in 56Bit Limited, a managed services provider specialising in Amazon Web Services (AWS) solutions. Once complete, this acquisition significantly enhances BMIT’s AWS capabilities and further expands its portfolio in cloud, cyber resilience, and managed IT services. 

56Bit will continue operating independently, ensuring that its established operational agility and deep technical expertise in AWS solutions remain dedicated to delivering bespoke cloud services, while simultaneously leveraging the strategic support and resources of the BMIT Group. 

56Bit is an AWS Advanced Tier Services Partner specialising in cloud solutions, DevOps, and managed services. They offer tailored solutions for optimising AWS infrastructure, enhancing security, and ensuring efficient cloud operations. Their expertise includes cloud consulting, architecture, migration, and cost optimisation, providing businesses with the necessary tools to scale and secure digital environments effectively. 

The acquisition marks a strategic move aimed at enhancing BMIT’s cloud service capabilities and strengthening its position as the leading provider of hybrid IT and cloud services in Malta. Through this acquisition, BMIT gains deep AWS expertise which complements its existing cloud services and expands its ability to provide vendor-agnostic and tailored cloud solutions. 

BMIT will also benefit from access to specialised skills, certifications, and customer relationships, enabling the BMIT Group to offer tailored, high-quality AWS solutions. Additionally, it accelerates the Group’s ability to deliver AWS-focused cloud migration, optimisation, and managed services, while enhancing BMIT’s competitiveness in hybrid and multi-cloud environments. 

“The provision of cloud services is at the heart of our business and over the past few years we have seen an ever-growing demand for these services. This investment not only boosts our Cloud expertise, particularly on AWS solutions, but also reinforces our ability to be truly vendor-agnostic, delivering solutions are that are as unique as our clients,” Ing. Christian Sammut, CEO of BMIT, said. 

“Our vision has always been to set the benchmark in hybrid IT and cloud services and stand out as a forward-thinking provider always ready to adapt and innovate. This investment helps us achieve that goal,” Ing. Sammut added. 

“56Bit has always been dedicated to delivering the most cost-effective, stable, resilient and future-proof cloud infrastructure solutions possible to our clients. Thanks to this investment we can now broaden our reach and contribute to one of the most comprehensive cloud service offerings in Malta and beyond. Together with BMIT, we are well positioned to help clients navigate their transformation journeys with flexibility and confidence,” Patrick Camilleri, CEO of 56Bit said. 

BMIT Technologies today announced its financial results for the year ending 31 December 2024, highlighting steady growth and a solid financial performance driven by a strong strategic vision and diversification through the successful integration of new business lines.

The Company reported a substantial year-on-year revenue growth of 17.2%, with revenue increasing from €28.7 million in 2023 to €33.6 million in 2024. EBITDA also saw a notable improvement, rising by 26.7% to reach €12.7 million. These figures mark the first consolidated results for two key segments: BMIT’s core business, which includes data centre, cloud, cyber resilience, and managed services, and its new digital infrastructure segment, which includes mobile network towers operations.

Christian Sammut, CEO of BMIT Technologies, described 2024 as “a defining year for BMIT”, not only in achieving a strong revenue performance but also in “strengthening its position as a trusted partner in the fields of IT, digital infrastructure, cloud and managed services, cyber resilience and security”.

“Despite a challenging environment, we demonstrated agility, adaptability, and a clear strategic vision, ensuring we remain a trusted partner to our clients. Our success is built on a disciplined financial strategy, continuous investment in innovation, infrastructure, and talent, and most importantly, our unwavering focus on customer needs. We remain committed to enhancing our portfolio, deepening our customer relationships, and delivering long-term value for our stakeholders,” Ing. Sammut said.

Commenting on the results, Nikhil Patil, Chairman of the Board said: “2024 has been a very positive year for BMIT Technologies, reflecting not only a strong financial performance but also the collective commitment to its strategy and expansion of its service portfolio. BMIT has diversified its revenue streams, investing in digital infrastructure, and enhancing its core business.”

“We have laid the groundwork for sustained growth by successfully launching a digital infrastructure segment, starting from the acquisition of GO’s passive mobile infrastructure. This journey of transformation is not only about achieving short-term gains, but building a resilient, scalable, and future-ready business. As we continue to anticipate and respond to market demands, we are confident in our ability to deliver long-term value to our shareholders and customers alike,” added Mr Patil.

Ing. Sammut stated that BMIT remains focused on further strengthening its core business while expanding its digital infrastructure capabilities. It will continue to invest in innovative technologies, building resilience, and seizing new opportunities to remain at the forefront of Malta’s digital landscape. Profit before tax amounted to €7.2 million compared to €7.7 million in 2023. Profit after tax amounted to €4.2 million, compared to €4.7 million in the previous year, resulting in earnings per share of €0.020.