MSSP Cipherpoint launches security services for SMBs, local government

Sydney cybersecurity services firm Cipherpoint has launched new managed security service offerings for small and medium businesses and local government customers.

The ASX-listed company aims to expand its customer base from its existing enterprise managed security services.

Cipherpoint said the launches were ahead of schedule in anticipation of the Federal Government’s policy announcements earlier this week, as well as to bolster the company’s cybersecurity commitments and to also ramp up the training and hiring of additional resources.

“As a small agile and growing player in this sensitive sector, Cipherpoint is well placed to move quickly to take advantage of these market opportunities,” Cipherpoint chair Ted Pretty said.

The SMB solution aims to provide a lower cost automated solution aimed to reduce attack surface and to manage, detect and respond to threats that may impact the day-to-day operations. The service will address ACSC’s Essential Eight requirements and other relevant standards.

The local government solution is a multi-tenant managed security service aimed to deliver cyber security services for local and regional councils without having to support their own cyber personnel.

Cipherpoint said its Brace168 managed services subsidiary already has existing SMB clients who use the company’s security and managed desktop services, while its Tasmania-based VIT Cyber Security subsidiary has previously provided user awareness training for a number of local councils.

In addition to the new offerings, Cipherpoint also revealed it is “in advanced stages” of planning of its second security operations centre in Tasmania. The SOC will service the Tasmanian state Government and business customers, while also bolstering support solutions across Australia.

Cipherpoint acquired Hobart-based VIT Cyber Security in November 2021 for $1 million, while Sydney-based Brace168 was acquired in January the same year for $3 million.

The deals also come amid the company's pivot from software development to IT services, leading to Cipherpoint eventually selling its software division in September 2021 to Canberra-based security software vendor ArchTIS for $1.4 million.