Penten and Amiosec announce merger in digital information security
Australian digital defense innovator Penten and UK cybersecurity innovator Amiosec have announced an agreement to combine their complementary capabilities.
The merger is expected to create a major provider of digital information security technologies to the UK, Australia and their allied countries, strengthening AUKUS’ cyber industrial base.
“We heard directly from our customers: as cyber threats intensify and become increasingly complex, they want innovative thinking, an agile approach and cost-effective solutions from the industry to address current and emerging threats” , said Adrian Cunningham, CEO and founder of Amiosec. .
“Through this planned merger, we will use the talents of our combined workforce to drive more disruptive thinking and expand our offering to our respective countries. »
Penten Founder and Executive Chairman Matthew Wilson said: “Penten and Amiosec each recently celebrated their 10th anniversary. »
“Throughout this journey, the two companies have worked in partnership to invent, deliver and evolve our proprietary technologies.
“By focusing on the cyber challenges that others avoid, we have worked together to maximize the value of our clients’ technology investments to deliver real impact as we seek to protect those who protect us.
Together, Penten and Amiosec have provided secure communications of classified information for defense and security customers in the UK and Australia with the AltoCrypt Mobility Suite.
This year, Amiosec launched Penten’s AI-powered active cyber defense solutions in the UK, providing network protection to governments and sophisticated enterprises.
The merger is expected to enable greater scale and accelerate the contributions of both companies in the UK, Australia and their allied countries.
Subject to regulatory approvals, the combined business will have a significant presence in Australia and the United Kingdom, with a workforce approaching 300 employees.
Greg Barsby, Penten’s current CEO, will lead the combined companies as group CEO, while Adrian Cunningham will remain UK managing director. Sarah Bailey, Penten’s current chief financial officer (CFO), will take on the role of group CFO.
“Every defense company describes itself as innovative,” Barsby said.
“But few can match the innovation DNA and track record of Penten and Amosec. Our combined workforce will support the delivery of customer solutions in the areas of cryptography, secure mobility, electronic and network engineering, artificial intelligence, electronic warfare and communications security RF.
“Through this historic combination, we aim to deliver greater asymmetric advantage to our customers and greater opportunities to our people. »
The timing of the merger is subject to regulatory approvals and closing conditions. Fully financed for growth, the proposed merger transaction is backed by Penten investor Five V Capital.
