Cipherpoint takes on Excite-ing rebrand

Cipherpoint has taken up a new brand name in the form of Excite Technology Services following near unanimous approval from its shareholders.

Voted on at its annual general meeting on 31 August, the decision to rebrand to Excite was due to the desire to shift “away from the fear trap tactic many technology service providers leverage to influence customer decisions,” according to the company group.

“The company seeks to make its cyber security and technology services easily accessible to the medium enterprise market, aligned to constructive and real-world business outcomes,” Excite noted in a statement to the Australian Securities Exchange (ASX).

It also added that the word excite encapsulates how the company provides services with “feelings of enthusiasm, eagerness and energy”.

The company already has partial branding with the word excite, as one of its subsidiaries is named Excite IT, which it purchased in 2022 for $3.25 million.

The decision to change the branding, according to AGM results from the ASX, had close to 100 per cent approval, with those holding 382,342,675 shares voting, representing 99.995 of all shares. Meanwhile, only those with 18,755 shares voted against the change, representing 0.005 per cent of all shares.

Excite added that more updates about the rebrand would be coming in the future.

In January of this year, the company raised $750,000 through a capital raise in order boost group activity with commercial deals.

The raising round, which was based on 150 million shares selling for $0.005 apiece, were purchased mostly by “existing top shareholders”, with Cumulus Wealth and Peak Asset Management leading the pack as joint leaders.