The A$176 million acquisition of Tesserent by global defence and technology company Thales is now complete, following shareholder and regulatory approvals.
ASX-listed Tesserent had a turnover of $185 million in 2022, and has over 500 employees in nine offices in Australia and New Zealand.
With the acquisition of Imperva for US$3.6 billion this year, Thales expects taking its cybersecurity business "to the next level" with revenue next year reaching A$4 billion, with Tesserent's contribution added.
Thales said its offers three families of cybersecurity products and services: global security products for broader cloud protection and licensing, including identity, data security and application security.
Sovereign protection products such as encryptors and sensors to protect government and institutional critical information systems are also part of Thales' offerings.
The company also has a suite of cybersecurity services around the Cybels solution portfolio that includes threat and risk evaluation, training, simluation, detection and response, as well as integration.
Thales said Tesserent is part of the latter family of cybersecurity services.
“The marriage of Thales and Tesserent creates a sovereign cyber security provider like no other because it links Thales as a trusted partner with government with Tesserent’s outstanding capability in cyber, especially in the defence, security and critical infrastructure sectors," Thales chief executive for Australia and New Zealand, Jeff Connolly, said.
"We will be very well positioned to help Government achieve its ambition of Australia being one of the most cyber-secure countries by 2030," he added.
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