Tesserent buys Secure Logic's managed services unit
Australian cybersecurity company Tesserent has acquired Secure Logic’s managed services business to strengthen its government division.
Sydney-headquartered Secure Logic operates a 24x7 security operations centre serving mainly NSW and federal government departments and agencies.
The company also serves a range of international and domestic corporate and financial institutions with additional sales offices located in Singapore, Kuala Lumpur and Bangalore. The company’s managed security services business had a turnover of $9 million and EBITDA of $4.2 million in FY20.
The purchase price will be $10.75m in cash as well as just over 42.1 million Tesserent shares.
“I welcome Secure Logic to the TNT group, strengthening our position as the leading provider of government-focused cybersecurity solutions and services in Australia and New Zealand. In addition, this acquisition contributes to our FY21 $150 million turnover annualised run rate ambition,” Tesserent Chairman Geoff Lord said.
Secure Logic Executive Chairman Santosh Devaraj and Managing Partner Deepak Singh have been tasked with integrating Secure Logic into Tesserent’s Government practice group and ongoing operations.
Post-integration, the unit plans to focus on integrating two new cybersecurity products, TrustGrid and AttackBound, into the Tesserent product suite. Tesserent has established an exclusive strategic partnership with the two product companies to incorporate the solutions into its Cyber 360 offering for Australia and New Zealand customers.
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