Hubify acquires stake in Aussie cyber company Internet 2.0


Wednesday, 28 April, 2021


Hubify acquires stake in Aussie cyber company Internet 2.0

Hubify Limited has entered into a partnership agreement with Australian and US based company Internet 2.0 to provide cyber protection to SMEs as part of the company’s managed cybersecurity services offering, to be known as CyberHub.

Hubify has invested $0.5 million into Internet 2.0 for 4.2% equity; the $0.5 million will be reinvested in marketing and sales to drive Hubify’s Cyber Security revenue in Australia. Hubify will also have the option to purchase up to a further $1 million worth of equity at the same value per share as the initial equity purchase (based on achieving revenue targets. The partnership will enable Hubify to sell an affordable defence-grade cybersecurity solution to its SME customers.

Internet 2.0 provides defence-grade cybersecurity for SMB, SME and Enterprise markets. It uses a combination of proprietary technology and managed services to deliver scalable and secure solutions. The proprietary technology and security appliance is developed in Australia and the technology provides cybersecurity across the entire surface area of an enterprise. This includes obfuscation technology that hides the customer’s network from cyber predator scanning.

The partnership will allow Hubify to provide a complete cybersecurity solution to its SME clients. Monitoring and management will be run in-house, with complex support and incident response backed by Internet 2.0’s team of former government and intelligence cyber experts.

Hubify CEO Victor Tsaccounis said this new solution will provide defence-grade technologies and experience to customers that are increasingly connecting remotely to the cloud and across information domains.

“This investment and partnership supports our dual pronged strategy to grow organically and through acquisitions in telco and managed services,” Tsaccounis said.

Internet 2.0 CEO Robert Potter added that the company provides a combination of obfuscation and encryption capability that hides customer data in transit, thereby delivering a safety and privacy increase to business operations.

“We are excited to be partnering with Hubify to assist their customers and provide cybersecurity across the entire surface area of an enterprise. We are also pleased to have Hubify join our share register as we drive revenue and profit growth for both businesses in partnership,” Potter said.

Image credit: ©stock.adobe.com/au/chinnarach

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