ASX-listed Spirit Technologies has acquired Melbourne's Forensic IT which provides incident response and digital forensics services for the Australian market, for $7.6 million in a mix of cash and shares.
The deal, set to be completed in October, aims to enhance Spirit's defensive cyber security offerings through its cyber division, Infotrust.
This acquisition follows Spirit's mergers of Intalock in 2020, and Infotrust this year, which combined a state-of-the-art Security Operations Centre (SOC) with governance, risk, compliance, and engineering practices.
As part of the acquisition Spirit will integrate Forensic IT's incident response capabilities with Infotrust's existing services.
The deal will add highly skilled incident response and digital forensic professionals for enhanced capabilities , including data recover and expert witness testimonay.
All in all, the expansion of the combined cybersecurity experts will increase the team to 115 members.
"This acquisition aligns well with our strategy to enhance our service offerings and provide our clients with a robust, end-to-end cyber security solution," Julian Challingsworth, managing director of Spirit Group, said,
"Being acquired for our incident response and digital forensic capabilities is a testament to the expertise and dedication of our team," Luke McCarthy, owner of Forensic IT, added.
The acquisition is expected to bolster Spirit's defensive cyber security services for mid to enterprise-level businesses across private and public sectors, particularly in Sydney and Melbourne.
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