Strategic acquisition accelerates CyberCX’s national position in Australia
Basis Networks, a Melbourne-based cyber security provider with expertise in networks and cyber security services, has joined CyberCX. Completion of the acquisition is subject to conditions, including regulatory approval
John Paitaridis, CyberCX’s CEO, said the acquisition was aligned with CyberCX’s strategy to accelerate the growth of its network security, managed services, integration and engineering capability across Australia and New Zealand.
“Organisations are looking for a trusted sovereign partner to help them manage their cyber security risk. A combination of COVID-19 and recent targeted attacks from state based actors reinforces the need for Australian businesses and government to urgently uplift cyber security capability.” Mr Paitaridis said.
“Corporate networks represent a key vulnerability for Australian businesses, especially with a large proportion of the economy engaged in remote working. Basis Networks’ reputation for providing highly secure network infrastructure and cloud solutions will strengthen CyberCX’s position as Australia’s leading cyber security service provider.”
“We are pleased to add Basis Networks’ capabilities, experience and customer-focused approach to CyberCX’s comprehensive security service offerings. Increasingly customers are looking for end-to-end solutions for their network, security and cloud services. CyberCX is committed to working with customers to advise, build, implement and manage security solutions, we are committed to supporting organisations through the journey” said Mr Paitaridis.
“The security services markets in Australia, New Zealand and across the region are growing rapidly and we expect to see this growth continue. Cyber security is one of Australia’s most promising growth sectors. In the next five years an additional $31 billion will be spent on cyber security in the Indo-Pacific region with the potential of exponential sector growth in Australia. This presents a significant opportunity for CyberCX.”
Established in 2015, Basis Networks provides a broad suite of cyber security professional services and has been recognised as one of Australia’s fastest growing technology companies. Basis Networks provides services to Australian business and government customers such as AEMO, Australia Post, JB Hi Fi, Bupa and McMillan Shakespeare. The company is widely recognised in the industry and has featured in the 2017 Financial Review Fast Starters list and the CRN Fast 50 (2017).
Basis Networks Co-Founder and Managing Director, Tom Allan, said CyberCX’s unique sovereign end-to-end cyber security offering, combined with Basis Networks’ network security credentials and service commitment would create exciting growth opportunities.
“It is a natural fit. CyberCX has quickly established itself as Australia’s leading cyber security organisation underpinned by the industry’s best talent and security service offerings. Our expertise and values, particularly our relentless commitment to customers, are strongly aligned.
“We’re excited to be joining CyberCX and helping to bring our expertise in developing complex and emerging network security solutions for our clients with CyberCX’s leading security services expertise, to a broader market. Our team is very much looking forward to the tremendous opportunity ahead,” said Mr Allan.
The announcement follows recent cyber security investments by CyberCX, including the acquisition of Melbourne-based cyber security specialists, Identity Solutions, a leading provider of security, identity and access management services.
