CyberCX has agreed to acquire cyber and cloud security specialists Decipher Works and CloudTen from ASX-listed Vortiv Limited. The companies provide specialised solutions in the cyber security, identity, data analytics and cloud services sector and have an enterprise customer base across financial services, education, government, transport, manufacturing and services sectors.
John Paitaridis, CyberCX CEO said, “We are committed to delivering the market leading cloud security and identity security capability. Decipher Works and CloudTen bring expertise and synergies that complement our mature cyber security capabilities and which will deepen CyberCX’s identity and cloud security expertise.”
With the cloud and identity cyber security market growing at up to 25% annually, Mr Paitaridis said the acquisition will strongly position CyberCX to take advantage of growth opportunities. “Cloud and identity security are two of the fastest-growing cyber security domains globally. We see impressive talent and capabilities in these two businesses playing a critical role in deepening and enhancing CyberCX’s services, which are vital for our business and government customers as they adopt cloud-first solutions and enhance identity security controls” said Mr Paitaridis.
“CloudTen have proven capability and experience in designing, building and managing multiple cloud environments and Decipher Works in implementing best-in-class identity solutions. Their expertise provides a strong complement to CyberCX’s end-to-end security offering. We have significant investment plans for our identity and cloud security offerings. COVID-19 has accelerated enterprises’ cloud migration strategies and highlighted the need for robust identity management solutions. With its deep domain expertise and relentless customer focus, CyberCX is well positioned as a strategic partner on this journey.”
Richard Tomkinson, CloudTen’s Managing Director, said CyberCX’s culture, values and growth ambition align closely with Cloudten’s aspirations. “CyberCX is the perfect home for our team of cloud-focused, cyber security professionals. We have built a leading cloud security practice with extremely strong network, compliance and data security capability. CyberCX complements our existing domain expertise and will accelerate our growth prospects. We are proud to join Australia’s leading cyber security services organisation and look forward to continuing to drive outstanding results for our customers.”
Michael Leonard and Stefan Halvarsson, Decipher Work’s Executive Directors, commented that the Decipher Works specialist team will enhance CyberCX’s strong identity and access management practice. Decipher Works brings some of the country’s most experienced solutions and technology developers and configuration specialists. As we join CyberCX, the scale and depth of expertise of the combined group will present one of the region’s most capable and compelling identity and access management offerings.”
CyberCX has a workforce of over 600 cyber security professionals and over 20 offices across Australia and New Zealand. Cloudten and Decipher Works have teams in Sydney, Melbourne, Brisbane and over 50 employees.
*The transaction is subject to usual conditions precedent, including shareholder and regulatory approvals.
