CyberCX pays AU$25m for Decipher Works and CloudTen
CyberCX, the group of security companies headed by two of Australia’s most experienced technology and cyber veterans, has continued its expansion, this time scooping up a pair of local cybersecurity firms from ASX-listed Vortiv Limited for AU$25 million.
Identity management firm Decipher Works and cloud security specialists CloudTen will join the cybersecurity megamix, subject to shareholder and regulatory approvals.
CyberCX said both companies provide specialised solutions in the cybersecurity, identity, data analytics, and cloud services sector and have enterprise customer bases across financial services, education, government, transport, manufacturing, and services sectors.
“We are committed to delivering the market-leading cloud security and identity security capability,” CyberCX CEO John Paitaridis said.
“Decipher Works and CloudTen bring expertise and synergies that complement our mature cybersecurity capabilities and which will deepen CyberCX’s identity and cloud security expertise.”
Paitaridis has touted that both businesses have impressive talent and capabilities.
CyberCX, backed by private equity firm BGH Capital, in October 2019 brought together 12 of Australia’s independent cybersecurity brands: Alcorn, Assurance, Asterisk, CQR, Diamond, Enosys, Klein&Co, Phriendly Phishing, Sense of Security, Shearwater, TSS, and YellIT.
It is headed by Alastair MacGibbon, former head of the Australian Cyber Security Centre and once special adviser on cybersecurity to former Prime Minister Malcolm Turnbull, as well as Paitaridis, who was formerly Optus Business’ managing director.
Decipher Works and CloudTen join the growing list of companies now under the CyberCX umbrella, with two Melbourne-based startups, Basis Networks and Identity Solutions, being scooped up in July.
CyberCX has a workforce of over 600 cybersecurity professionals and a footprint of over 20 offices across Australia and New Zealand.