Cyber security company CyberCX has acquired Melbourne-based cyber security provider Basis Networks.
Basis Networks' customer list includes well-known names such as AEMO, Australia Post, JB Hi Fi, and Bupa.
"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," said CyberCX CEO John Paitaridis.
"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."
Basis Networks co-founder and managing director Tom Allan said "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."
The acquisition is subject to certain conditions, including regulatory approval, and is expected to be completed in a matter of weeks.
Terms of the transaction were not disclosed.
The deal follows CyberCX's recent acquisition of Melbourne-based security, identity and access management service provider Identity Solutions.