Aussie IT services firm CyberCX has announced that it will be acquiring two cloud and security solution providers Decipher Works and CloudTen. The pair of the local cyber security companies is from ASX-listed Vortix Limited.
The acquisition transaction for cloud security expert CloudTen and identity management company Decipher Works has been closed at $25 million. However, the two firms will join CyberCX subject to regulatory and shareholder approval.
CyberCX – A Group of Securities Companies
CyberCX is led by two of Australia’s cyber veterans and technology experts John Paitaridis (CEO) and Alastair MacGibbon (CSO). Formerly, MacGibbon was once former Prime Minister Malcolm Turnbull’s special cyber security adviser and the head of the ACSC (Australian Cyber Security Centre). Paitaridis has been the Managing Director of Australian telecom giant Optus Business.
It has a talented workforce of more than 600 cyber security professionals as well as a presence of 20+ offices spread across Australia and New Zealand.
In 2019, CyberCX brought 12 of the independent cybersecurity brands of Australia: Assurance, Alcorn, Asterisk, Diamond, CQR, Enosys, Phriendly Phishing, Klein&Co, Shearwater, Sense of Security, YellIT and TSS. The financial backing for the same was provided by BGH Capital, a private equity firm.
SEE ALSO: TPG to launch Felix to compete against Telstra
More on CyberCX’s newest acquisitions
The Australian group of securities companies, CyberCX said the two firms offer specialised solutions in the identity, cybersecurity and data analytics along with cloud services. The companies also have a strong enterprise customer base across education, financial services, government, manufacturing, transport and services sectors.
John Paitaridis, CyberCX CEO says they are committed to offering and delivering market-leading identity security and cloud security capabilities. CloudTen and Decipher Works, both bring synergies and expertise that complement the mature cybersecurity capabilities of CyberCX and will deepen it’s expertise, Paitaridis added.
CloudTen and Decipher Works will be joining the growing list of promising firms under the umbrella of CyberCX, with 2 Melbourne startups, Identity Solutions and Basis Networks, being bought in July. In August 2019, the firm also expanded its operations in the market of New Zealand by buying a Kiwi securities company Insomnia Security.
Image Courtesy: Technology photo created by wirestock – www.freepik.com
SEE ALSO: ASX tech IPO 2020 update: $259m tech player to launch on the ASX soon
For more updates and latest tech news, keep reading iTMunch
