Kurt Hansen (Tesserent)
Tesserent is to acquire Brisbane-based attack simulation provider Beyond Binary for $7 million.
Founded by former Rapid7 talent OJ Reeves, Beyond Binary provides penetration testing, red team engagements, adversary and attack simulation plus associated security consulting services.
The company has operated since 2010 and aims to help customers “understand the nature of the technology landscape, improve their defensive capability and correctly identify the elements of their security strategy that need attention”.
Publicly listed Tesserent said the $7 million value will be paid in tranches and subject to standard adjustments. The acquisition is expected to close later this month.
The news follows an offer from Thales Australia to acquire all of Tesserent’s shares for A$176 million. Announced in June, the deal, if cleared, will see Tesserent retain its brand but add “Cyber Solutions by Thales”.
Last month, the majority of Tesserent shareholders voted in favour of Thales Australia’s proposed deal.
Last financial year, Tesserent saw total sales turnover rise 12 per cent to $186 million while statutory revenue increased 15 per cent to $185 million for the financial year ending June 30.
During the year, Tesserent completed the acquisition of cyber security training business ALC Group, integrating it into the Tesserent Academy and has already introduced a new certified CyberSec First Responder training course to the market.
