CyberCX has sought to provide local customers an Australian alternative to large multinational providers for complex cyber security services.
Launched in October 2019 and backed by private equity firm BGH Capital, CyberCX has brought together 15 (and counting) independent cyber security service providers over the course of the past year. Some of these providers are well known Australian names – including Shearwater, CQR, Sense of Security, TSS and Phriendly Phishing.
CyberCX’s approach to scaling – by acquiring and consolidating existing providers who have proven capabilities and prior customer bases – means the organisation has been able to develop into a large and competitive provider within a short period of time.
CEO John Paitaridis said, “CyberCX took a structured and deliberate approach to integrate its group of portfolio companies into a single organisation, building shared systems and a united mission, under a single brand”.
CyberCX’s acquisitions reflect an ambition to unite a complementary set of cyber services. As recently as October this year, CyberCX acquired the publicly listed Cloudten and Decipher Works – who specialise in cloud and identity management, respectively – to meet growing demand around cloud services driven by the COVID-19 pandemic.
“COVID-19 has accelerated enterprises’ cloud migration strategies and highlighted the need for robust identity management solutions,” said Mr Paitaridis1.
Chief Strategy Officer Alastair MacGibbon has signalled that CyberCX will continue to scale further by expanding overseas in 2021. He said, “CyberCX plans to significantly grow our specialised cyber security workforce across the UK and US to deliver end-to-end cyber security services”.
One of CyberCX’s earliest acquisitions (CQR) had an existing presence across the UK which will help CyberCX scale its presence overseas. The organisation plans to double its cyber security workforce across New Zealand, the UK and US in the next year in an attempt to create a large, globally competitive, Australian cyber services alternative.
1. ARN (20 October 2020), CyberCX forks over $25M to buy Cloudten and Decipher Works