FirstWave drops Opmantek branding in one-brand strategy

ASX-listed software vendor FirstWave has announced it is phasing out the Opmantek brand, eight months after acquiring the Aussie MSP software vendor.

In an ASX announcement, the company said the decision is part of a new strategy following the completed integration of Opmantek, where all products and services will be consolidated under the FirstWave brand.

FirstWave, which specialises in cybersecurity and network monitoring technology, announced plans to acquire Opmantek in November 2021 to expand into MSP software. The acquisition was finalised in January 2022.

Opmantek was a provider of enterprise and service provider grade network management, automation and IT audit software to MSPs and medium-to-large businesses. Its US-based CEO Craig Nelson joined FirstWave's leadership team as its chief revenue officer and head of global sales.

FirstWave chief executive Danny Maher said the retirement of the Opmantek brand would provide the company with a unified focus and enhance the go-to-market strategy for the integrated product offerings.

“FirstWave’s strategy centres on the transition from being engineering led to being a sales and marketing led company, built on the strength of our intellectual property,” he said.

The consolidated branding aligns with FirstWave’s new strategic focus, specifically on the provision of integrated solutions for network discovery, management and cybersecurity for enterprises, managed service providers and telecommunications carriers.

FirstWave is also aiming to accelerate its growth, become more capital efficient and transition into a sales and marketing-led culture with the newly unified organisation.

“We have already seen significant cost reductions and synergies post the acquisition of Opmantek and we now look to leverage a substantial pipeline of opportunities in Australia, North America, and Latin America,” Maher said.

“In addition to the substantial pipeline growth, we are beginning to unlock the potential of the combined IP through the integration of Opmantek’s IP into our CyberCision platform, enhancing functionality and increasing margins.

“I look forward to updating the market further as these initiatives start to accelerate our growth.”

Earlier this year, FirstWave signed a five-year network monitoring deal with Macquarie Cloud Services, and extended its security services contract with Telstra.

In August, FirstWave announced that its software was being used by NASA to monitor its Artemis' mission, which aims "to establish the first long-term presence on the Moon”.