- Cybersecurity company Tesserent (TNT) has signed a share purchase agreement with Ludus Cybersecurity
- This agreement will see Ludus be immersed by Tesserent’s Canberra-based North Security to further enhance its existing Government offering
- It will also round-out Tesserent’s stance as the largest end-to-end cybersecurity services provider in Canberra
- This acquisition will be fully funded through a mixture of Tesserent’s existing cash reserves and shares, totalling $536,000 in cash and 4.3 million shares issued at 22.41 cents each
- Tesserent shares are steady in early morning trade, with shares trading for 24.5 cents each
Cybersecurity company Tesserent (TNT) has signed a share purchase agreement with Ludus Cybersecurity.
This agreement will see Ludus be immersed by Tesserent’s Canberra-based North Security to further enhance its existing Government offering.
It will also round-out Tesserent’s stance as the largest end-to-end cybersecurity services provider in Canberra.
“With the Federal Government’s significant investment into cybersecurity and our comprehensive offering, this positions Tesserent as a key player in securing Australia’s sovereignty of the rapidly growing Canberra market,” Chairman Geoff Lord said.
“We see this as a cornerstone in maximising TNT’s long-term value for shareholders,” he added.
This acquisition will be fully funded through a mixture of Tesserent’s existing cash reserves and shares, totalling $536,000 in cash and 4.3 million shares issued at 22.41 cents each.
The cash portion of the payment will be split into two phases, with $268,000 payable on completion and the remaining $268,000 will be paid 13 months after completion.
“Having someone as well-respected as George Stewart and his team at Ludus will be a real boost to our operations in Canberra and improve our already strong reputation within Federal Government departments and agencies,” Geoff concluded.
Tesserent shares are steady in early morning trade, with shares trading for 24.5 cents each at 10:29 am AEST.