Exclusive Networks has signed a binding agreement to acquire Australia’s NEXTGEN Group, the French headquartered cybersecurity company announced today.
The acquisition is subject to customary conditions precedent and is expected to be finalised during the second quarter of 2024.
The acquisition will more than double Exclusive Networks’ presence in Australia and New Zealand, Exclusive Networks stated.
It estimated that the combined entity would have represented gross sales of around €615m in APAC, based on FY pro-forma figures as of December 31, 2023.
NEXTGEN’s gross sales in its financial year ending June 30th, 2023, were $266 million. It has 190 employees across APAC.
Exclusive Networks stated that NEXTGEN “presents a promising hyper growth vendor portfolio, coupled with a wide array of services.”
It talked up the future combined company’s “unique end-to-end value-added channel management services, supported by real-time data analytics and AI-backed insights, benefiting the entire APAC region and providing Exclusive Networks with the ability to roll-out digital channel services at a global scale.”
NEXTGEN also received praise for its expertise in cloud migration assessment, digital marketing and lead generation solutions.
Exclusive Networks plans to use NEXTGEN's in-house “state-of-the-art platforms and developed initiatives with hyperscalers, laying the foundations for the next phase of growth.”
“This acquisition is a major step forward in our growth strategy in APAC, it significantly strengthens our business and allows us to expand and develop further our value proposition,” stated Jesper Trolle, CEO of Exclusive Networks.
The company described APAC as "a region with attractive growth prospects and a total addressable market estimated at $10bn in 2023."
Founder and CEO of NEXTGEN Group, John Walters, stated: “To capture the next phase of NEXTGEN Group’s exciting growth, we had to find the right global partner that brings the appropriate investment into our model and aligns with our culture.”
“Exclusive Networks, led by Jesper, aligns strongly with our shared ambitions and values, including a passion for innovation and an entrepreneurial spirit,” Walters said.
Sydney-headquartered NEXTGEN was founded in 2011 and offers leading enterprise software and value-added cloud solutions.
oSpace helps vendors and partners drive personalised engagement at scale. Its capabilities include data intelligence, demand generation, account-based marketing and sales execution.
In the year after oSpace’s launch, more 50 vendors and partners used it to generate more than $30 million in net new pipeline, NEXTGEN previously stated.