Thales Australia Buys Tesserent To Expand Cybersecurity Services.
Thales Australia buys Tesserent – Thales will acquire all shares of Australian cybersecurity provider Tesserent for A$0.13 cents per share – an offer that values the company at around $176 million.
Thales Australia is a defence contractor based in Australia. It’s a subsidiary of the French defence technology conglomerate, Thales Group, and emerged from Thales’ complete acquisition of Australian defence contractor, ADI, in 2006. The local team is 3800-strong and operates out of 35 sites, with the business turning over around $1 billion annually.
Thales Australia supports many programs on behalf of the Australian Defence Force, as well as contracting to overseas operators. The company offers additional security-related services, including secure communications, infrastructure security, border protection technologies, ID management, and cryptology – the acquisition of Tesserent considerably enhances the company’s cybersecurity capabilities.
Thales Australia Buys Tesserent
Meanwhile, Tesserent is Australia’s largest provider digital security services, including penetration testing, vulnerability management and incident response services, physical access control and video security. Tesserent also owns Secure Logic, which provides digital identity services for New South Wales mobile driver’s license.
“With the acquisition of Tesserent and its highly skilled team of cyber experts, and combined with our own system engineering experts, Thales Australia will establish an Australian/New Zealand leader in cyber defence able to best protect the country and its national infrastructure from cyber threats,” said Thales Australia CEO, Jeff Connolly.
The transaction has been recommended by Tesserent’s board, but it needs required shareholder and regulatory approval and once this is attained, the acquisition is expected to be completed in the second half of 2023.
“Thales Buys Aussie Cybersecurity Provider Tesserent.”