Tesserent, an Aussie cybersecurity provider has announced that it is signing a joint venture agreement with Optic Security Group, a Kiwi security firm. Joint Venture will combine the Cyber 360 security capabilities of Tesserent with the Optic’s physical asset and infrastructure protection expertise to offer a complete virtual and real security solution for their clients of both the companies. It is a 50-50 deal that’ll give Tesserent an opportunity to expand its Cyber 360 strategy in the New Zealand market.
About Optic Security Group
Optic was established in 2018 as a result of merging 6 entities. It is an independent IT, information and physical security solutions provider that serves Australia and New Zealand. The combined group consisted of IT and security professional service providers from both the countries and came along with a staff of more than 200 spread across 10 locations. The combined revenue of the companies was more than NZ$100 million.
It claims to be Australasia’s most technically advanced Enterprise Security Risk Management Group. The company has worked with over 1000 customers across healthcare, retail, commercial, industrial and government organizations which includes defence, hospitals and retail locations.
Cybersecurity provider Tesserent on the JV
Geoff Lord, Tesserent Chairman will be the JV’s Founding Director along with the current chairman of Senetas, Francis Galbally. Lord says he is very much looking forward to working with Mr Galbally on a vast range of exciting collaboration opportunities for both Optic and Tesserent. The JV will pave the way for their initial entry in the NZ market where they intend to grow significantly, both via acquisition and organically, he adds.
Lord stepped in the shoes of Tesserent Chairman in January 2020 with the intent of shaving AU$1 million off its annual costs to mitigate the AU$4.3 loss suffered in 2019. Since his appointment, the company has made several powerful acquisitions. Tessrent acquired Seer in July, and Airloom and Ludus this year in August. The cybersecurity provider also raised AU$10 million in funding to go about its acquisition strategy.
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