SYDNEY: Tesserent Limited announced the completion of the recently announced acquisitions of Airloom and Ludus Cybersecurity, effective as of 11 September 2020.
With the addition of these two acquisitions, the Company now has a gross revenue run rate on an annualised monthly basis of circa $80Mwith an ambition to grow to in excess of $100 million in the near term, but by no later than December 2020.
As previously announced, Tesserent now has a strong earnings base and remains focused on creating shareholder value by maintaining its position as the #1 ASX-listed cybersecurity firm. The Company’s objective is to continue capturing market share, both organically and through acquisition whilst delivering a positive Net Profit After Tax (NPAT).
“Current market conditions combined with our healthy cash position (circa $10M) continue to present tremendous consolidation opportunities, and we fully expect to take advantage of this with several acquisitions currently under consideration, two of which are nearing completion of due diligence. This, together with our ability to quickly complete transactions, improves our ability to land quality acquisition targets,” a news release said.
Future strategic acquisitions will complement the firm’s Cyber 360 strategy by filling product and solution gaps, whilst adding high-margin, annuity-based income and proprietary intellectual property.
Tesserent provides full service, enterprise-grade Cyber Security and networking solutions targeted at mid-market, enterprise and government customers across Australia. The Company’s Cyber 360 strategy delivers integrated solutions covering identification, protection and 24/7 monitoring against Cyber Security threats. With in excess of 180 security engineers, Tesserent has the capability to support organisations defend their digital assets against increasing risks and cyber-attacks.
Tesserent has been transformed via the acquisition of several high-quality Cyber Security businesses including Pure Security, Rivium, NorthSecurity, Seer Security, Airloom and Ludus Security, making it Australia’s largest listed dedicated Cyber Security firm.
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