Former CRN Fast50 winner Basis Networks acquired by CyberCX

Melbourne-based security provider Basis Networks has been acquired by CyberCX for an undisclosed sum.

CyberCX owns a group of 14 Australian cybersecurity companies including Sense of Security, Enosys, CQR, Identity Solutions and more. The company is led by former Optus exec John Paitaridis as CEO and former National Cyber Security Adviser Alastair MacGibbon as chief strategy officer.

Basis Networks, who was ranked No. 4 in the 2017 CRN Fast50, was founded in 2015 and specialises in securing mission critical networks and cyber security services.

In the announcement, Paitaridis said the acquisition was aligned with CyberCX’s strategy to accelerate the growth of its network security, managed services, integration and engineering capability across Australia and New Zealand.

“Organisations are looking for a trusted sovereign partner to help them manage their cyber security risk. A combination of COVID-19 and recent targeted attacks from state based actors reinforces the need for Australian businesses and government to urgently uplift cyber security capability.” Paitaridis said.

“Corporate networks represent a key vulnerability for Australian businesses, especially with a large proportion of the economy engaged in remote working. Basis Networks’ reputation for providing highly secure network infrastructure and cloud solutions will strengthen CyberCX’s position as Australia’s leading cybersecurity service provider.”

Paitaridis added that CyberCX is pleased to add Basis Networks’ capabilities, experience and customer-focused approach to its offerings.

“Increasingly customers are looking for end-to-end solutions for their network, security and cloud services. CyberCX is committed to working with customers to advise, build, implement and manage security solutions, we are committed to supporting organisations through the journey.”

Basis Networks co-founder and managing director Tom Allan said CyberCX’s unique sovereign end-to-end cyber security offering combined with Basis Networks’ network security credentials and service commitment would create exciting growth opportunities.

“It is a natural fit. CyberCX has quickly established itself as Australia’s leading cyber security organisation underpinned by the industry’s best talent and security service offerings. Our expertise and values, particularly our relentless commitment to customers, are strongly aligned,” Allan said.

“We’re excited to be joining CyberCX and helping to bring our expertise in developing complex and emerging network security solutions for our clients with CyberCX’s leading security services expertise, to a broader market. Our team is very much looking forward to the tremendous opportunity ahead.”