Brisbane-based technology company Canopy Tools Group has announced it will rebrand to its old name, CT4, as it looks to grow its international footprint.
The company comprises managed services provider CT4 and spin off company Canopy Tools, a developer of IoT device and cloud management and control software solutions.
Co-founder and managing director Craig Adams said the name change “paid homage” to the company’s “humble grassroots” as it eyed new opportunities in Australia and globally.
“Our genesis was over a decade ago as a small operation helping a handful of clients with cloud computing, and before long we were offering cloud services from data centres across Australia,’’ Adams said.
“CT4 marks a fresh start, while acknowledging where we came from as a company. Australia is an incubator of great technology; we are proud to have started here, but we are a global business.
“We see some acquisition opportunities and we wish to aspire to continue funding our expansion in our people, product expansion and market growth in Europe and North America and our home base of Australia.”
Fuelling CT4’s expansion plans include its recent addition of full-time staff to have more than 100 globally, as well as revenue growth of $17.2 million in 2019-20. The company also closed a $21 million capital raise last year.
CT4 also acquired Melbourne-based consulting firm Adams Consulting Group (ACG), a provider of IT services, cloud and consulting services.
“Our mission is to translate data into meaningful insights that help businesses succeed. We do this by embedding highly functional products into our customer’s processes, enabling them to deliver smart, future-ready services,’’ he said.
“There has never been a better time to embrace the possibilities of technology. Now, more than ever people have access to products to create, innovate and use data intentionally.”