Sydney, Australia – 15 October 2019

AUSTRALIAN CYBER SECURITY POWERHOUSE LAUNCHED

Australia’s $4.1 billion cyber security industry has come of age with the nation’s leading independent cyber firms joining forces to create CyberCX, which will be Australia’s largest dedicated cyber security organisation in the rapidly growing sector.

Backed by private equity firm BGH Capital, CyberCX will be Australia’s leading full-service cyber security company, with an initial workforce of over 400 of Australia’s most talented cyber security professionals, and revenues of more than $100 million per year.

CyberCX has a national footprint, with over 20 offices across Australia, and draws on the combined leadership of the industry’s most trusted cyber experts.

The company will be led by one of Australia’s most experienced technology industry executives, former Optus Business Managing Director John Paitaridis.

As corporations and government come under increased cyber threats from sophisticated criminal syndicates, former National Cyber Security Adviser Alastair MacGibbon will play a critical role in CyberCX as Chief Strategy Officer.

CyberCX is bringing together thirteen of Australia’s leading independent cyber security brands - Alcorn, Assurance, Asterisk, CQR, Diamond, Enosys, Gen2, Identity Solutions, Klein&Co., Phriendly Phishing, Sense of Security, Shearwater, TSS, and YellIT – to build the nation’s pre-eminent full-service cyber security firm. These companies represent the brightest minds in cyber security in the country, selected because of the high quality of the leading individuals and deep bench of talent in each organisation. More organisations will be announced in the near future.

Offering the most comprehensive cyber capability in Australia, CyberCX will provide a full range of cyber security services: consult and advisory; risk and compliance; security assurance; integration and engineering; training and education; incident response and digital forensics; and managed security services.

“The rapid increase in the number of cyber security threats globally is creating unprecedented risk and exposure for organisations in Australia which must be addressed,” Mr Paitaridis said.

“Cyber security risk should be a number one priority for business owners, senior executives and board directors as organisations increasingly embrace digital connected technologies. It is clear that many businesses, enterprises and government organisations are not yet well enough advised, supported or equipped to defend their mission critical assets.”

“Organisations need a cyber security partner with a consultative end-to-end approach. A partner who is independent, understands the intersection between risk and technology, and has the expertise, scale and know-how to confront any cyber threat. CyberCX will have boots on the ground across Australia supporting customer when and where they need us”

Mr MacGibbon, who ran the Federal Government’s cyber security strategy as head of the Australian Cyber Security Centre, said “CyberCX is committed to being the employer of choice for cyber security and will recruit, develop and grow the best talent in the country”.

He added: “Cyber security is a global problem that is growing. It is the greatest existential threat we face as a society. The reach of cyber threats is pervasive, from websites, email and mobiles, to cars, financial systems, power grids, industrial systems and the internet of things. There is no safe harbour.”

The company will have offices in Sydney, Melbourne, Brisbane, Canberra, Adelaide, and Perth, with further offices planned in the months ahead.

*All transactions will be subject to customary conditions, including regulatory approval