MELBOURNE, AUSTRALIA: Tesserent Limited (ASX: TNT)  announced the strategic purchase of Beyond Binary Pty Ltd, a company that offers security related services, such as penetration testing, red team engagements, adversary/attack simulation and related security consulting services (Beyond Binary).

The acquisition of Beyond Binary is valued at around A$7m, which will be paid in instalments and subject to some standard adjustments.

The completion of the acquisition depends on a number of conditions precedent and is anticipated to be finalised by mid October 2023. The Board of Directors of Tesserent has authorised this announcement for release.

Tesserent has the ability to help organisations defend their digital assets from increasing risks and cyber-attacks. Tesserent has been transformed by the integration of several high-quality cybersecurity businesses, making it Australia’s largest listed dedicated Cybersecurity firm.

Tesserent buys Pearson Corporation and Claricent for a total of $24.3mn