- Cybersecurity firm Tesserent (TNT) will step into the real world with a new joint venture incorporating cyber and physical security solutions
- Tesserent and New Zealand firm Optic Security Group will join forces in a 50-50 joint venture (JV) called Tesserent Optic Security
- The JV will see Tesserent’s Cyber 360 security capabilities married with Optic’s expertise in protecting physical assets and infrastructure
- TNT has also acquired secure cloud services firm, iQ3 — along with its $25 million turnover run rate and $3 million in earnings since the start of November
- Tesserent now has a gross revenue run rate on an annualised monthly basis of around $100 million, with aims to increase that to $150 million by mid-2021
- Tesserent is trading 5.56 per cent higher for 38 cents
Tesserent (TNT) will step into the real world with a new joint venture incorporating cyber and physical security solutions.
Real security
Tesserent and New Zealand firm Optic Security Group will join forces in a 50-50 joint venture (JV) called Tesserent Optic Security.
Until now, Tesserent’s offering has been purely virtual, providing cybersecurity and network solutions to mid-market enterprise and government customers across Australia.
Optic Security is New Zealand’s premier converged security firm, focussed on the meeting point between physical and cybersecurity. The company has an annual turnover of over $100 million delivered from 10 locations across NZ and Australia.
The JV will marry Tesserent’s Cyber 360 security capabilities with Optic’s expertise in protecting physical assets and infrastructure to provide a real and virtual security solution for the companies’ customers.
Tesserent’s Chairman Geoff Lord and cybersecurity expert Francis Galbally will be the founding directors of the new company.
Geoff Lord says the joint venture will provide growth opportunities both domestically and across the ditch.
“I very much look forward to working with Francis on a range of exciting opportunities both for Tesserent and Optic,” Geoff said.
“This joint venture paves the way for our initial entry into the New Zealand market, a presence we intend to grow significantly, both organically and via acquisition,” he added.
Outlook
Tesserent also has other growth opportunities outside the new JV.
It’s aggressive acquisition strategy continues to bear fruit with another new purchase — secure cloud services firm, iQ3.
With the addition of iQ3’s $25 million turnover run rate and $3 million in earnings since the start of November, TNT now has a gross revenue run rate on an annualised monthly basis of around $100 million.
Tesserent is aiming to grow that figure to over $150 million by mid-2021.
With the new joint venture allowing for both service and territory expansion, along with more more acquisitions in the pipeline, TNT looks ready to explode.
Tesserent is trading 5.56 per cent higher for 38 cents at 1:04 pm AEDT.