Bastion Security Group has entered into an agreement to acquire Melbourne-based cyber security professional services firm Phronesis Security, further expanding its presence in the Australian market.
The acquisition, which is expected to complete in December 2025, marks Bastion’s third Australian transaction, following its recent acquisitions of Melbourne-based managed services provider Cythera and Perth-based cyber intelligence firm Seamless Intelligence. Financial terms were not disclosed. The leadership team at Phronesis will remain with the business and retain an ongoing investment in the Bastion Group.
Founded in 2021, Phronesis Security provides cyber security audit, assurance and technical assessment services to enterprise, critical infrastructure operators and government clients. The company has grown to approximately 15 cyber security professionals, with a focus on security assessments, compliance frameworks and certification services supporting regulated and high-risk environments.
The merger strengthens Bastion’s professional services capability in Australia, complementing its existing portfolio spanning managed security operations, governance, risk and compliance, penetration testing, cloud and network security, cyber strategy advisory services and threat intelligence.
Bastion CEO Eugene Gibney said the acquisition reflects the group’s continued focus on building depth in specialist cyber security services.
“Phronesis’ reputation for quality, integrity and technical excellence made them a natural fit for Bastion. Their expertise will play an important role as we continue to expand our professional services capability and support customers navigating increasingly complex cyber risk and compliance requirements,” Gibney said.
Phronesis founder Elliott Dellys said the merger aligns with the firm’s original mission.
“Since day one, Phronesis has focused on delivering cyber security outcomes that have real-world impact. Joining Bastion gives us access to a broader service portfolio and deeper talent pool, while allowing us to continue delivering the specialist services our clients value,” Dellys said.
Under the agreement, Phronesis will integrate progressively into Bastion’s Australian operations, with customers gaining access to a wider range of security capabilities while retaining Phronesis’ specialist assessment and certification services.
Phronesis was advised by Bonitz Advisory and Thompson Geer, while Bastion Security Group was advised by EY and Maddocks.
